GOLD: Dark Cloud Covers the Sky!
Hello everyone! Today i want to share some macro analysis with you!
1.
TECHNICAL: Gold price resumed its downtrend to support the expected continuation of the dominant bearish trend during the day, waiting for a test of $2,600, which is the first major target of my recent forecasts, reminding that a break above this level would extend the bearish wave to the $2,513.15 area.
A break below the EMA50 supports the continuation of the suggested bearish wave, while a break above $2567 would stop the expected downtrend and allow the price to resume the dominant bullish trend once again.
Expect today's trading range to be between the 2610 support level and the 2645 resistance level.
Trading continues to be dominated by sell orders!
Asian and European market strategies:
Sell: 2643-45 TP:2630-2625 SL:2656
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