JesusShuttlesworth

GOLD STRONG RESISTANCE (November 29th)

TVC:GOLD   CFDs on Gold (US$ / OZ)
Yesterday, GOLD             was capable of getting over the strong resistance but quickly came back down. Today we dropped back to the 1180 area but as you can see there's a good support there too.
Now today showed how the blue rectangle is acting as a strong Resistance. Price action tells us, looking at the yellow circles, that the bulls tried to get over it but the bears quickly brought it down.
Long-term GOLD             I wouldn't advise to go long, the bears are in control. Very short-term, it's also difficult to guess by what I just explained in this graph. We shall see tomorrow.
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