Joe_Keegan

SHORT GOLD (xau/usd)

Short
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
We are in a quite important time for gold at the moment, My view on the commodity is bearish longterm down to potentially 840.00. That said Gold is currently showing another short term selling opportunity opportunity. After breaking 1200 last week (which I called in a previous previous gold post) we are currently retracing slightly back up to that level once more. This also lines up with the 61.8 of the previous downward move and the top of the current downward channel . with these confluences in mind i will be looking at price action around this level for multiple rejections or reversal signs. should we get a valid rejection signal targets will be down at 1160.00 and beyond to 1140.00