GOLD Possible Rejection off the 88.6 Zone

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

GOLD is still bearish. We can see a strong resistance around the 1915 zone and next retracement might be good for sellers.

Gold has been rejecting off the 1900 zone quite a lot. We should see another drop if the price gets within the POC 1904-1911. Additionally, we can spot a double top / W H3 camarilla pivot at 1916. In case of rejection watch for 1880 followed by 1860 and 1855. Bears are still winning and GOLD can be bullish only if the market moves above 1920 on an intraday timeframe.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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