GOLD : Spike Candle on Resistance Area 61.8 % Fibo - Bearish
Updated
In the last sessions, the GOLD recovered value against the USD with a deep Pullback that, yesterday, find a solid wall on the 61.8% Fibonacci level in confluence with a strong level area of resistance around the level of price of 1800.00 - As we can see from the chart, in 12 Hour timeframe, the price had a Spike in correspondence of that previously talked area/level and the price was reabsorbed and follow red candles. The Stochastic seems ready to exit from the overbought area, ( there is a divergence ) and the RSI turned Bearish. The forecast of the Ichimoku remains Red and there are good clues about an ABCD pattern formation. Our Bias is still Bearish.
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