Gold target 1600 to 1625 stop loss 1825 . Wedge break down if Monday close below 1800 to 1815. Wedge length is target for Sell.
Caution -Wait till Monday close: Please wait for Monday to see if long term buyers may turn up on Monday to change the direction but chances look remote. As in trading and investment nothing is certain.
Reason for Sell:
ADX is also indicates till seller has advantage and is in trend and no sign of buyers. I was expecting 200 day will provide support but it did not. Monday is monthly close and Gold close below 1800 is quite negative and confirm this target.
Caution -Wait till Monday close: Please wait for Monday to see if long term buyers may turn up on Monday to change the direction but chances look remote. As in trading and investment nothing is certain.
Reason for Sell:
ADX is also indicates till seller has advantage and is in trend and no sign of buyers. I was expecting 200 day will provide support but it did not. Monday is monthly close and Gold close below 1800 is quite negative and confirm this target.
Comment:
Stop loss reached