Gold Analysis 2-15-22
Overall trend is currently bullish and this bearish move down could just be a retracement. Price has rejected the 200 EMA and also created a wick rejection. Even though the market structure was broken, I think there will be continued bullish momentum.
1. Strong bearish candles/momentum
2. New low was formed
3.Price broke market structure
4. Price being supported by the 200EMA
5.If price forms resistance, it can then retest the wick below
6. Buying opportunity would be a break and close above 1858.60
1. Strong bearish candles/momentum
2. New low was formed
3.Price broke market structure
4. Price being supported by the 200EMA
5.If price forms resistance, it can then retest the wick below
6. Buying opportunity would be a break and close above 1858.60
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