Gold is Ready for a Fresh Drop

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

Gold is very bearish. The price should retrace to the POC zone and start a fresh move down.

The POC zone 1742-50 is the important zone where we can expect fresh sellers. If the market retraces back there, we might expect a fresh move down. Targets are 1708 and 1692. Further continuation down will lead the price to retest 1661. As long as 1776 holds, gold bears are safe. Selling on rallies is the way to go now until proven otherwise.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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