Złoto / Dolar USAShort
Short On Gold After A Retest Of 2678, Down To 2508
Zaktualizowano
Taking a look at my most recent gold ideas, we can see that Gold has had a false break below a hourly channel. At this moment, Gold is just about to confirm its re-entry and rejection from the support 2618 yet again.
The Weekly SMA Target is 2678, which falls in-line with historical, but local resistance. It is likely we will see a push to this level this week, followed by a fall from then on.
The larger descending channel that Gold trades in also aligns with this analysis, as 2678 sits just about on the upper resistance level.
If you take a look at my Long Term Gold post, you can see that overall Gold is currently trading outside of the 45 year long trend, therefore it needs to test the broken resistance, or come back inside (which I believe is what will happen)
This long term perspective agrees with the above analysis because the closing of December, the final quarter will form bearish price action on those monthly and quarterly timeframes. We could see 2508 hit before Gold returns and closes around 2618 for the end of the year.
Gold Long Term:
Gold False Break Of Channel:
The Weekly SMA Target is 2678, which falls in-line with historical, but local resistance. It is likely we will see a push to this level this week, followed by a fall from then on.
The larger descending channel that Gold trades in also aligns with this analysis, as 2678 sits just about on the upper resistance level.
If you take a look at my Long Term Gold post, you can see that overall Gold is currently trading outside of the 45 year long trend, therefore it needs to test the broken resistance, or come back inside (which I believe is what will happen)
This long term perspective agrees with the above analysis because the closing of December, the final quarter will form bearish price action on those monthly and quarterly timeframes. We could see 2508 hit before Gold returns and closes around 2618 for the end of the year.
Gold Long Term:
Gold False Break Of Channel:
Zlecenie aktywne
Trade opened days ago and everything is going according to the analysis thus far. 
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