Gold has broke some key levels and has continued its downtrend since the break.
Tuesday we broke trend, Wednesday the market sentiment was bearish, Thursday price attempted to rally up, Friday's Fakeout failed.
price reached a high of 29 before the melt and Friday End of Day close price is approximately 1919.
so what does this mean? the sharp rejection from 1929 means the Bears are still and control, Gold will likely be heading down to where the rally first started.
only question i have is will we see 1929 once more before we head down? we find out monday.
Stay tuned for my next post where will mark out Monday's trading scenarios.
Tuesday we broke trend, Wednesday the market sentiment was bearish, Thursday price attempted to rally up, Friday's Fakeout failed.
price reached a high of 29 before the melt and Friday End of Day close price is approximately 1919.
so what does this mean? the sharp rejection from 1929 means the Bears are still and control, Gold will likely be heading down to where the rally first started.
only question i have is will we see 1929 once more before we head down? we find out monday.
Stay tuned for my next post where will mark out Monday's trading scenarios.