goldenBear88

Possible Sell opportunity

Singkat
TVC:GOLD   CFD untuk Emas (US$ / Auns)
Irregular movements on yesterday's session/Short-term as Gold (Xau-Usd on my reports) continues to Trade sideways within the #1,680’s belt / #1,695.80 Resistance and #1,671.80 Support on the Hourly 1 chart. If I can draw anything positive out of the yesterday’s session, is that Gold revealed the underlying Short-term trend - Bearish. I expect small correction on Monday’s E.U. opening and aggressive drop towards #1,660.80 extension. One important difference though: the Daily chart #MA50 broke and for the first time in #2 days Gold is testing it from above as a Support, which makes Gold Bearish on Short and Medium-term. Death Cross is almost completed and I don’t need more calculations as Gold should test #1,660.80 and #1,647.80 extension. Gold ignored Annual Low’s on DX and confirmed my statement that Gold lately is correlated with Stock market. Stock markets started recovering the lost ground, and Gold should see capital moving away from it’s safe haven which will add Selling pressure as next week starts.

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