GOLD Breakout or Rejection is Imminent

Dear traders,

Gold has been retracing but it is still bearish. However, it has come to the crossroads.

D H5, 88.6 and historical sellers constitute the POC zone which will be decisive for the next move. Generally speaking GOLD is still bearish so the thing is will it reject from this POC zone or higher. 1910-12 is the POC zone. Bearish momentum should lead the price lower to retest 1900 then 1885. However, a bounce above 1918 should be targeting 1937. There, new sellers could be waiting.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez