Gold formed a bearish descending triangle
Price action around 1867.64, which represents 38.20% Fibo from the decline that began on April 18th, is bearish.
Price formed a descending triangle and broke below levels of support 1840, indicating that the decline will continue.
However, due to weak momentum on shorter timeframes, we may see a pullback to test 1840 as resistance levels (where we could short) to 1780 dollar targets.
Price formed a descending triangle and broke below levels of support 1840, indicating that the decline will continue.
However, due to weak momentum on shorter timeframes, we may see a pullback to test 1840 as resistance levels (where we could short) to 1780 dollar targets.
Order cancelled:
Gold showed no signs of bearish price action around levels of resistance 1840. Short position no longer valid.