Gold prepared for down move in the next 1-5 days.
1/ We have blue lines of downtrend
2/ The Pink Line of support was...
3/ ...broken down in the very bearish style: SB+ND+SB. It was effort of bears to push price down. Chart tells that sellers have control over 1488 level.
4/ I plot green line of resistance on this level. Now read the signs from chart when price approached green resistance line:
5/ ND
6/ Perfect example of SLKT. This bar triggered SLs of sellers above 04/Dec (minor high).
Now, this market is looking prepared for down-move. Pink line 7 is under danger.
2/ The Pink Line of support was...
3/ ...broken down in the very bearish style: SB+ND+SB. It was effort of bears to push price down. Chart tells that sellers have control over 1488 level.
4/ I plot green line of resistance on this level. Now read the signs from chart when price approached green resistance line:
5/ ND
6/ Perfect example of SLKT. This bar triggered SLs of sellers above 04/Dec (minor high).
Now, this market is looking prepared for down-move. Pink line 7 is under danger.
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