TradingView
Tickmill
Nov 27, 2020 4:35 AM

Gold is facing bearish pressure, potential drop! Short

Gold/US DollarSaxo

Description

Price continues to face bearish pressure, trending below the EMA (45) and Ichimoku cloud. We are thus seeing a medium-probability bearish scenario as price breaks below our ascending trend line, where we could possibly see a further drop towards our first support at 1801.71.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Comments
forexboat
Thanks for sharing your analysis @Tickmill
More