Spot Gold may come under a lot of pressure

Gold/US DollarSaxo

Description

⋅ Feb 8, 2023 11:57 PM

Spot Gold not looking too healthy...could easily rollover below 1860...Daily chart struggling. Notice the wicks on the daily which correspond to a failed to break above 1880 on the lower timeframe 30 min chart....see what the next few days brings

Comments

Prasad_Ari

⋅ Feb 9, 2023 2:55 AM

I have the similar outlook for the short term! I am anticipating to test $18030-$1800 levels before bouncing back to high $1800's!!

TradeTheStructure

⋅ Feb 9, 2023 5:46 AM

@Prasad_Ari, May be a bit of a rough ride in the near term but I expect to see a lower high and selloff down.