GOLD broke down from daily trend line
We have 2 important breakdowns on daily chart.
#1 Bearish flag breakdown, Technical target of that is $1774.74
#2 Ascending trend line break down, Technical target of that is $1795.92
Price is trying to breakdown from golden ratio level 0.618 which IF breaks down then most likely are going sub $1800 levels.
GOLD seems very bearish for mid-term because on daily structure is changing from higher highs/higher lows to lower highs and lower lows which suggests that gold trend is shifting from bullish to bearish.
Please like and comment if you agree.
#1 Bearish flag breakdown, Technical target of that is $1774.74
#2 Ascending trend line break down, Technical target of that is $1795.92
Price is trying to breakdown from golden ratio level 0.618 which IF breaks down then most likely are going sub $1800 levels.
GOLD seems very bearish for mid-term because on daily structure is changing from higher highs/higher lows to lower highs and lower lows which suggests that gold trend is shifting from bullish to bearish.
Please like and comment if you agree.
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