In my yesterday's analysis, I warned about Gold approaching a very strong resistance, a level that acted as support for the first 6 months of 2022 and the possibility of reversal.
Indeed, the yellow metal has reversed from that level, leaving a long-tailed candle on our daily chart with strongly bearish implications.
After this 300 pips drop, we assist a normal correction that can offer a good opportunity for bears.
That being said, in my opinion, rallies against yesterday's high should be sold with a target in 1740-1745 support
Indeed, the yellow metal has reversed from that level, leaving a long-tailed candle on our daily chart with strongly bearish implications.
After this 300 pips drop, we assist a normal correction that can offer a good opportunity for bears.
That being said, in my opinion, rallies against yesterday's high should be sold with a target in 1740-1745 support
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