Bearish Momentum in gold !
Updated
Gold has confirmed a bearish long term bearishness (maybe consolidation). 3M - 6M MA bearish cross and a daily close below 1Y moving average.
Combining this with recent weeks COT data and gold seasonality suggest 1550 and first target for (this year).
Bearish months may be March April and May. a summer recovery may occur then continue the move down starting Aug-Sep towards end of Nov.
Stay Safe
Combining this with recent weeks COT data and gold seasonality suggest 1550 and first target for (this year).
Bearish months may be March April and May. a summer recovery may occur then continue the move down starting Aug-Sep towards end of Nov.
Stay Safe
Trade closed: target reached
good place to start taking profits :)
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