GOLD Continuation of Bearish Move Still Very Possible

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

GOLD has completed the SHS pattern but we need to see the breakout below the neckline. Bears are having the upper hand.

1838-45 is the POC zone. We should see a break lower and a possible test of 1835, the neckline of SHS pattern. If the price breaks lower we should see a continuation down towards 1831, 1821, 1811 and 1801. This will complete both the Diving Board and SHS pattern. Uptrend is non-existent as long as the price is below the 1860 zone.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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