Down we go(ld). See the weekly timeframe
Hi Folks:
From the technical point of view it looks like we gonna go down to test, once again, the support trendline.
Fundamentally speaking I think gold is under a lot of pressure due to inflation worries worldwide and its hike rate policies in the main markets USA, EU, England...
I feel more confident holding shorts at this moment.
Cheers
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
From the technical point of view it looks like we gonna go down to test, once again, the support trendline.
Fundamentally speaking I think gold is under a lot of pressure due to inflation worries worldwide and its hike rate policies in the main markets USA, EU, England...
I feel more confident holding shorts at this moment.
Cheers
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
Trade active:
We are currently at the POC of the volume and therefore seems the price most widely accepted by supply/demand factors. MACD is neutral with slight intention to go down. Stochastics with 533 setup (Fast) shows a downtrend movement.
