Gold due for a correction, price at channel top
Hello traders, Gold has breached the 2200 historical level due to US Dollar
weakening across the board. However, the uptrend might not last long
as price is approaching the top of the channel(technically)
We recommend traders to watch out for bearish candlesticks in the 2205-2225
zone. If there is bearish price action in the zone that we have highlighted
in the chart, traders can consider selling Gold.
Targets would be 2150, 2055 and eventually 1980 if price continues to reverse.
weakening across the board. However, the uptrend might not last long
as price is approaching the top of the channel(technically)
We recommend traders to watch out for bearish candlesticks in the 2205-2225
zone. If there is bearish price action in the zone that we have highlighted
in the chart, traders can consider selling Gold.
Targets would be 2150, 2055 and eventually 1980 if price continues to reverse.
Comment:
So far, we are seeing some bearishness in the lower time frames. We have sold@2210
Comment:
Massive intra-day fall of over 250 Pips from our sell level, hope our followers made money too
Comment:
435 Pips profit and counting
Comment:
Gold may continue to fall even today, either way we will sell again if price reaches near the 2200 level