GOLD Might Start a Move Down

Dear traders,

GOLD is still bullish but it’s facing resistance.

GOLD has bounced due to risk off as the Russia-Ukraine crisis continues. The prevalent trend was bearish that has turned into a crisis induced bullish trend. At this moment the market looks like it could drop from the zone targeting W L3, M H5 and W L4. If the price continues lower expect it to possibly reach point 4 in the charts.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez