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Mihai_Iacob
Jul 6, 2022 6:52 AM

Gold- Sell rallies for a new low Short

GoldOANDA

Description

As I expected, yesterday Gold dropped and not only did it reach my 1780 target but has dropped under reaching a local low to around the 1760 zone.
Not the price seems to have stabilized and a corrective rally could follow.
This correction can give bears a good opportunity to enter the market in expectation of a down continuation.
The old support at the 1780 zone is now resistance and in this zone I m looking to sell.
Gold back above 1800 would negate this scenario
Comments
RLinda
nice analysis. You can be right. Thanks for sharing
Mihai_Iacob
@RLinda, thanks
MonoCoinSignal
Possible scenario, thanks
Mihai_Iacob
@MonoCoinSignal, thanks for comm
TheSignalyst
I agree, Gold has been melting lately!
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