GOLD Selling Continues as the Price is Sold on Rallies

Dear traders,

Gold is strongly bearish. Friday’s rally was used to sell at a better price. I expect a continuation of a short trend.

The POC in Gold comes within 1742-1750. We could see selling again if the price returns back to the POC zone. Continuation of the move should happen below 1725, towards 1718, 1706 and 1696. Bears are still dominating, meaning that even if the price comes higher above 1750, we could still see selling within the 1800 zone.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez