Gold has Taken out the Important Support

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

As previously shown, Gold has broken below 1869, critical support. Downtrend is in progress.

We can see the POC zone 1848-52. If the market continues with the trend, which is now bearish we might expect a move towards 1821 and further down to 1794. Sellers should be in control from the POC zone. Have in mind that the first couple of weeks after the New Year can be tricky as the trends still need to form. However, we should expect the main move of Gold to be down during this week. 

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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