Babsphoenix

GOLD: BROKE A SIGNIFICANT SUPPORT

Short
TVC:GOLD   CFDs on Gold (US$ / OZ)
Gold has just broke a significant support and 1D MA 100 few days ago and both supports have now been turned into a resistance cluster. A retest of the supply zone created during the drop seems to be unfolding. We can look for a sell setup here with our minimum target at 1D MA 50 and demand zone cluster. But If price turned all these into a fake out and reversed above the both resistance, we can look for a sell setup around the upper supply zone

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