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Gold Spot / U.S. Dollar
Short

GOLD: Potential Scenario and Bearish Forecast

By VasilyTrader
Updated
snapshot

hey traders,

after reaching 1440 level we see a clear weakening bullish momentum on gold.

with consequent lower highs and rsi divergence, I anticipate a formation of a descending triangle
with the sequence of new lower highs.

many times bears will push the market to 1380 structure support and most likely we will see a bearish breakout
with bullish trend violation.

if I see a bearish breakout I will follow a trading plan that I have recently posted.
just check the related ideas.

good luck
Note
Seems like we will see a bearish leg down to support
GOLD Trading Plan
Chart PatternsCommoditiesForexfuturesGoldindexesMetalsoptionsTechnical AnalysistradingTrend AnalysisWave Analysis
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