Big bearish market. Fall not over yet?
Last week gold suprised us with a big fall. In my previous post i mentioned a bigger pullback from 1858 level. WE managed to catch around 140pips. My initial plan was to short again around 1885. Unfortunality gold decided to fall earlier around 1880.
We have 1 week low candle waiting at 1830-1828 wich in my opinion gold will tap this zone this week. From here a big rejection can follow. If gold retraces earlier. Notify 1860,1885 is a good resistance for gold to fall again. But we need to wath price action closely. But in my opinion we will not see a good proper pullback until 1830-1828
BE advised we have some Highimpact news events this week wich can influence our technical analysis
SUpport: 1830, 1810,1775
Resistance: 1860, 1875, 1885, 1900
We have 1 week low candle waiting at 1830-1828 wich in my opinion gold will tap this zone this week. From here a big rejection can follow. If gold retraces earlier. Notify 1860,1885 is a good resistance for gold to fall again. But we need to wath price action closely. But in my opinion we will not see a good proper pullback until 1830-1828
BE advised we have some Highimpact news events this week wich can influence our technical analysis
SUpport: 1830, 1810,1775
Resistance: 1860, 1875, 1885, 1900
Comment:
1830 arrived. Waiting for priceaction to tell me more, Gold fell towards my weeklow i mentionend.
Comment:
around 1828 is is monthly low. Expecting a certain pulback/Reversal around this zone