Will gold remain bearish?
Updated
Last week was very profitable for us. Adviced to short the market around 2060 and Gold fell over 370pips.
This week there are 2 scenerio's. We have a daily support trend wich can push gold back up. But also 2030 is very strong resistance now. In my opinion we need to find good sell positions, but be aware off the red line support zone. Bearish target 2005 and 1982.
"Sell the highs"
Resistance: 2030, 2040,2052
Support: 2019, 2005, 2000
This week there are 2 scenerio's. We have a daily support trend wich can push gold back up. But also 2030 is very strong resistance now. In my opinion we need to find good sell positions, but be aware off the red line support zone. Bearish target 2005 and 1982.
"Sell the highs"
Resistance: 2030, 2040,2052
Support: 2019, 2005, 2000
Note
Dailychart perspective. retest above 2060 and direct fall
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