1. Bearish Impulse (1)
2. Strong correction couldn't break above 1238.00 (2)
3. Many ABC Corrections because of Fundamental Global Economic was unstable including EU & Brexit agreement therefore drove market sentiment to invest on Safe Haven where traders expected Gold would jump to 1250.00 area but there we have limited upside on Gold as said on point no.2
4. Downtrend candle confirmed as the price rejected from EMA 21 & EMA 34 Area which equivalent to weekly fibo 50.00 retracement (1241.77)
5. Sell on Rally would be nice position for this week as the price is testing 1200 - 1190 area.
6. Scenario 2 = If the price Break above 1216 and stay upside, the target for next Resistance at 1226 and Bullish bias is confirmed.
2. Strong correction couldn't break above 1238.00 (2)
3. Many ABC Corrections because of Fundamental Global Economic was unstable including EU & Brexit agreement therefore drove market sentiment to invest on Safe Haven where traders expected Gold would jump to 1250.00 area but there we have limited upside on Gold as said on point no.2
4. Downtrend candle confirmed as the price rejected from EMA 21 & EMA 34 Area which equivalent to weekly fibo 50.00 retracement (1241.77)
5. Sell on Rally would be nice position for this week as the price is testing 1200 - 1190 area.
6. Scenario 2 = If the price Break above 1216 and stay upside, the target for next Resistance at 1226 and Bullish bias is confirmed.