Gold Spot / U.S. Dollar
Short
Updated

Gold - short term sell & long term buy - forecast

Gold is on week chart again within big triangle after breaking down in 2018. Volume is getting lower and 1300 $ seems to be a strong resistance for gold. I expect a soon correction down to 1265 $ from there could start the next run up to 1340 $ if this support doesn't breaks. Weekly RSI is nearly heavy overbought which is a bearish indicator.

Stop loss for short position: above 1300
Take profits are drawn in the chart

Take a look at my first weekly gold analysis from August 18.

Good luck - don't forget to follow and like :)
Trade active
move stop loss to entry or above 1290
Trade closed manually
closed with first signals from trend reversal

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.