GOLD Bears Continue to Dominate

Dear traders,

Gold is still bearish and I can see new drop coming at the POC zone if the price makes a retracement.

78.6-88.6 makes a good confluence with historical sellers. We can see the zone which also shows historical selling, so I expect the price to reject. The zone is 1915-1920. However there is still a range present in the gold markets and the final target is 1882. If the market breaks lower than it will be a continuation of the downtrend. As far as bears are concerned, even 1925 could be good for selling, but I doubt the price will get there today.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez