Previous candle showing some bullish sign after a significant drop last week @ support zone.
Anticipate a slight pullback toward previous resistant zone 1240.00- 1245.00 to short
Reason:
1. overall weekly downtrend
2. EMA50 showing downtrend
3. Bearish market structure.
4. Fundamental, Trump is playing with the trade wars news with CHINA and create some pullback on DXY. Overall market view still bullish on US economy in 2nd half of 2018. Any major fundamental news are indication for pullback / countertrend.
Day Trade on Gold
Stay neutral and wait patiently for better price.
Anticipate a slight pullback toward previous resistant zone 1240.00- 1245.00 to short
Reason:
1. overall weekly downtrend
2. EMA50 showing downtrend
3. Bearish market structure.
4. Fundamental, Trump is playing with the trade wars news with CHINA and create some pullback on DXY. Overall market view still bullish on US economy in 2nd half of 2018. Any major fundamental news are indication for pullback / countertrend.
Day Trade on Gold
Stay neutral and wait patiently for better price.