What's next for gold. Retracement? or bearish movement ahead.
Last week was a very good week for us. We targeted mutipe levels and suceeded. 1935 was my last target for bears. Before market closure gold manage to hit our target.
So whats next? in my opinion 2 scenario's. 1932's is a support level were a posible pullback can follow. We need to follow priceaction after market openings to decide we go long. Target for bulls are 1964 and 1976 in the longrun.
THe second scenario is were the bearish momentum continueus If 1932's get broken with confirmation we need to add more sells for targets 1915 and 1905.
We also need to pay atention to the current Bearish channel. FOr bulls to regain power we need a break of this channel.
Stay tuned.
Resistance: 1947,1964, 1976,
Support: 1932, 1915, 1905
So whats next? in my opinion 2 scenario's. 1932's is a support level were a posible pullback can follow. We need to follow priceaction after market openings to decide we go long. Target for bulls are 1964 and 1976 in the longrun.
THe second scenario is were the bearish momentum continueus If 1932's get broken with confirmation we need to add more sells for targets 1915 and 1905.
We also need to pay atention to the current Bearish channel. FOr bulls to regain power we need a break of this channel.
Stay tuned.
Resistance: 1947,1964, 1976,
Support: 1932, 1915, 1905
