Gold is about to see a correction soon.
Hey, I am back with another idea, this time looking at Gold.
So basically a gold has seen a good run and now it's finally showing some bear, selling signs.
There is a double top RSI on 4H and also on daily time frame, this can be denied by breaking a level of $1,737 by a full 4H candle.
The price is still holding on support and on uptrend line so it still may found a good support and go ahead and retest 1,750$ but it was denied there pretty hard last time so it's more unlikely to hit this level.
I am not trading gold before I see how it reacts further on this uptrend line, I need some more confirmations.
Have a good luck with trading and stick to your rules!
So basically a gold has seen a good run and now it's finally showing some bear, selling signs.
There is a double top RSI on 4H and also on daily time frame, this can be denied by breaking a level of $1,737 by a full 4H candle.
The price is still holding on support and on uptrend line so it still may found a good support and go ahead and retest 1,750$ but it was denied there pretty hard last time so it's more unlikely to hit this level.
I am not trading gold before I see how it reacts further on this uptrend line, I need some more confirmations.
Have a good luck with trading and stick to your rules!
Comment:
Uptrend is still active
