GOLD Shorts are Strong but Watch the Support

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear traders,

Gold has dropped yesterday but I am long as we are on the strong institutional support.

We can see that the 1750 zone is important for institutions. This is where we have had buy orders in the past. Additionally it is the M L5 support and we can expect the bounce. The RSI has bounced above 30 and every time it does the price goes up. We could see 1785 and 1825 as targets.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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