GOLD New Bearish Pressure Within the POC Zone

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The GOLD is still bearish. We can see a descending trendline just below the POC zone and we might see new sellers there.

1508-1531 is the zone where we might expect fresh sellers. Gold has made 766 of the ATR(5) so volatility is still expected.  With the coronavirus market volatility has never been better in recent years. A rejection off the POC zone should bring the price lower towards 1505 and 1487. If the bearish momentum persists we should see 1466 and 1440.

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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