Gold Thesis
Weekly: Gold is still overbought and is expected to recover anytime soon. Strong rejections off $1535 zone signalling sellers could be ready to push market lower.
Daily: Market structure on daily timeframe is now bearish after clean break below $1535. Huge sell off down to $1494 is expected for Gold.
1hr: Gold has broken below $1535, Now waiting for a retest of this level but in confluence with mathematical ratios (Fibonacci) before looking to sell off to $1494. Also break of ascending trendline meaning a change in momentum from bullish to bearish.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.