GOLD Weekly Analysis - Shooort!
This commodity has been forming a rising flag for the past few weeks, last week it retested the upper trendline of the channel which IMO is a potential for a massive bearish run. It formed two bearish doji candles, which IMO the bulls were unable to drive the price much high.
I do anticipate that later in this week, we might test the market zones at 2365 and 2290
A follow up analysis using shorter time frames will follow.
I do anticipate that later in this week, we might test the market zones at 2365 and 2290
A follow up analysis using shorter time frames will follow.
Note
If this commodity happens to close below the 2300 mark, the bearish momentum might continue.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.