DeGRAM | GOLD fibo cluster zone at resistance level

GOLD bounced off the support level, with the lower border of the channel going up.

The market created a kill zone: a bearish harmonic pattern at resistance, dynamic resistance, and fibo cluster.

We expect a bearish move from the level where price dopped.


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Comment:

GOLD moved out of the ascending channel, and it made lower lows. 

The market broke and closed below the support level, which became a resistance that was respected before.

The market dropped from the resistance and 50% fibo level.

If the resistance level rejects the price, then we can look for selling opportunities.