Hi traders, i hope you are doing well and are ready to crush new year! Anyway i think that we can expect some drop on GOLD since all higher tf are highly overbought and we are inside big runing flat. It looks like price is moving in corrective waves, which can move price to the downside. My first target will be on trendline around 1900 where we need to see if price will hold it and bounce up again or it will break lower. Watch lower tf for price action before entering sells. I hope to see some rejaction and reverse on gold soon, price might first push bit higher to around 1940. Good luck!
Comment:
Price rejected and droped nice, but i want to see price to continue to the downside, impulse should get bit bigger and price should confirm that drop with correction