Gold Short setup
Gold seems to have bounced off its resistance area and appears weak around the resistance at 1242.8.
It is worth going short at these levels with stop loss above 1243-46 and aim for 1180 - 1215.
However one should be careful by not risking to much as the USD index has appeared weak the last couple of days and could thus reverse/retrace for a little while which could be bullish for gold (perhaps a short term bottom?)
It is worth going short at these levels with stop loss above 1243-46 and aim for 1180 - 1215.
However one should be careful by not risking to much as the USD index has appeared weak the last couple of days and could thus reverse/retrace for a little while which could be bullish for gold (perhaps a short term bottom?)
Penafian
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