GOLD Traders Aiming for Fresh Shorts

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

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

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