Get started
VladimirRibakov

Gold Short Term Forecast

Short
CFDs on Gold (US$ / OZ) (TVC:GOLD)  
VladimirRibakov  
TVC:GOLD   CFDs on Gold (US$ / OZ)
Trend Analysis Multiple Time Frame Analysis Trend Lines Gold short forecast SELL Bearish Patterns range Support and Resistance bearishdivergence
20
0
trendanalysis mtfa trendline gold short forecast sell bearish range supportandresistance bearishdivergence
D1 - On the daily chart the price respected the resistance zone and is holding below it. Bearish divergence.

H4 - On the H4 chart the price is moving inside a range.

While measuring the first wave we have with the fibonacci expansion tool the 61.8% (1750.62) fibonacci expansion level coincides with the top of the range which makes this area a key resistance zone for us.

Until this key resistance zone holds my short term view remains bearish here.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.