GOLD Strongly Bearish Continuation Below the Double Bottom

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

Gold is strongly bearish. Continuation below double bottom will open the doors to 1656. Watch for a continuation below the double bottom or a rejection from the POC zone.

1700-10 is the POC zone, we could see a move straight from the POC towards a retest of 1687 zone. We should see a move lower towards 1667 and 1656. From there, the move up is expected as a form of retracement. Gold has also formed the double top which cues for a continuation down.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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