After bullrun bearish market will return.
After the breakout off the bearish channel in H4 i adviced to go long in the gold market. Wich was accurate and gold hit both targets!. (See last analysis)
What now? Price action wise. The monthly candle closed with a bearish candle. Wich indicates there will be a bearish movement on the way. Also gold manage to hit the strong resistance/supply zone around 2060-2065. From here we can expect a bearish move with targets 2042 ad 2025. In the long run posible back to 2007.
We have a strong support bullish trendlne wich keeps respecting. For any further fall we need an confirmed break. Also 2030 is building strong support. But i do expect a break from both support levels.
THis above is all based on technical viewpoint. Be carefull with open positions tomorrow because off NFP high impact news!
Resistance: 2060, 2070
Support: 2048, 2040, 2030
What now? Price action wise. The monthly candle closed with a bearish candle. Wich indicates there will be a bearish movement on the way. Also gold manage to hit the strong resistance/supply zone around 2060-2065. From here we can expect a bearish move with targets 2042 ad 2025. In the long run posible back to 2007.
We have a strong support bullish trendlne wich keeps respecting. For any further fall we need an confirmed break. Also 2030 is building strong support. But i do expect a break from both support levels.
THis above is all based on technical viewpoint. Be carefull with open positions tomorrow because off NFP high impact news!
Resistance: 2060, 2070
Support: 2048, 2040, 2030
Comment:
Comment:
Gold crashed and took our first target. Congrats if you followed
Comment:
Were most were advising to buy the market. We Sold the high at 2060 and running almost 400pips now. Congrats.
