GOLD Traders Aiming for Fresh Shorts
Dear traders,
GOLD has made a new retest of 1850 level and it is clearly bearish. Selling on rallies continues.
The first POC zone comes within 1885-1895. We see a confluence of D H3 and 38.2. Usually 38.2 rejects the retracements in strong trends. On a deeper pullback we can see the zone 1919-29, which is making a confluence of 61.8, W L3 and D H4. Rejections are expected towards 1850. If 1850 breaks 1820 and 1800 are next.
The Analysis has been done with the Black Widow system.
Good trading,
Nenad Kerkez
