GOLD | Bear Bias
Updated
Since the 14th of this month Gold has had a decent bull run, nearly taking all gains since the start of November. Now however, it is believed that this run has exhausted itself out
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Price has set itself a beautiful expanding channel pattern with an accompanying ABCDE corrective sequence. As price currently sets on (E), we should see price slump down further
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The bear scenario is only accepted once price has broken and closed over the hourly trend-line
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Price is set to head for the 1190 area, while anything over the 1230.5 level is considered invalid
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Price has set itself a beautiful expanding channel pattern with an accompanying ABCDE corrective sequence. As price currently sets on (E), we should see price slump down further
-
The bear scenario is only accepted once price has broken and closed over the hourly trend-line
-
Price is set to head for the 1190 area, while anything over the 1230.5 level is considered invalid
Order cancelled
No longer comfortable with current price action
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