GOLD Sellers are Winning

Dear traders,

GOLD dropped as I pointed out yesterday.

Straight 200 pips move happened at the rejection from the MAs which mark the resistance area. The price is trying to break the trend line now. The real move will happen after the FOMC today. A daily close below 1769 should make the price move towards 1742. The break of 1742 and 1709 is the next target. Gold is selling on rallies.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez