GOLD HEADING TO THE DOWNSIDE
SHORT GOLD
3 touch downwards TL(trendline) and also a S/R (support & resistance) at the 1329 mark. The market pushed itself to the TL to anticipate for the 3rd touch BUT ended up holding and fell back down. It's currently headed towards the 1329 S/R and from my perspective, its going to close below and that will be our indication for a nice short up to the 1208 area.
1244.45 has another S/R( support & resistance) so once we could expect it to hold at that level and bounce from there then proceed to drop , OR if it breaks... it'll proceed to our initial long term target at the 1208 area.
3 touch downwards TL(trendline) and also a S/R (support & resistance) at the 1329 mark. The market pushed itself to the TL to anticipate for the 3rd touch BUT ended up holding and fell back down. It's currently headed towards the 1329 S/R and from my perspective, its going to close below and that will be our indication for a nice short up to the 1208 area.
1244.45 has another S/R( support & resistance) so once we could expect it to hold at that level and bounce from there then proceed to drop , OR if it breaks... it'll proceed to our initial long term target at the 1208 area.
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