Gold stays unpredictable. Bearish targets?
Gold gave a tuff run for most retail traders. After beeing bullish because of War going on. Most retail traders aimed for the 1953-1955 short. Gold broke that level with big momentum(posible manipulation again) wiping liquidity off the table and then a deep fall afterwards.
Now that liquidity is gone i am short on gold around 1954. Expecting a pullback back to 1930's area. The 1930's area is important. If this level holds bulls may take over again trying to target 1980's area. If break 1930 comes then gold will fall toward 1905 level. This is in my opinion the last level were bulls can take over again. If gold falls below 1900's then bearish momentum will come pushing gold lower towards 1830 were the pricegap formed during the weekend were war began.
Be advised to manage risk all the time. Especially during war times. GOld already broke multiple resistance levels without any rejection. So gold stays unpredictable. Use lesser risk on trades!
In the bigger timeframe:
Resistance: 1953, 1970, 1982
Support: 1930, 1915, 1905
Now that liquidity is gone i am short on gold around 1954. Expecting a pullback back to 1930's area. The 1930's area is important. If this level holds bulls may take over again trying to target 1980's area. If break 1930 comes then gold will fall toward 1905 level. This is in my opinion the last level were bulls can take over again. If gold falls below 1900's then bearish momentum will come pushing gold lower towards 1830 were the pricegap formed during the weekend were war began.
Be advised to manage risk all the time. Especially during war times. GOld already broke multiple resistance levels without any rejection. So gold stays unpredictable. Use lesser risk on trades!
In the bigger timeframe:
Resistance: 1953, 1970, 1982
Support: 1930, 1915, 1905
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