After touching the 2050's area, gold rejected to the lower levels of 2030-2020 due to positive news for USD. This has resulted in a sharp decline, where we can see the first signs of a longer term downtrend. Currently within the smaller time frames, we are in consolidation but with focus on reaching lower support levels of 2010-2012 and potentially the psychological level of 2000.
It is fair to mention, we must be aware of breaks to the upside, with a top in the 2040's area. From here we can short again.
Currently in
short - 2027
TP - 2011
TP2 - 20001
SL 1945
It is fair to mention, we must be aware of breaks to the upside, with a top in the 2040's area. From here we can short again.
Currently in
short - 2027
TP - 2011
TP2 - 20001
SL 1945
Comment:
We have reached the strong level of resistance, Now we wait for the confirmation to the downside, and enjoy the ride to 2000