GOLD Bears are Strong While the Price is Below 1550

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The GOLD is very bearish. The price is consolidating below 1550 and 1450. While the price is below 1550 we should see a move lower.

1550 zone is the crucial for bearish downtrend. New rejections should happen between 1525-50 towards 1475. If we see a close below 1475, watch for the bearish continuation move towards 1440 and 1420. 1420 is a W L4 camarilla pivot and ATR projection low. Only above 1550, we might see a correction towards 1583.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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