Mihai_Iacob

Gold price screams 1850 (at least)

שורט
OANDA:XAUUSD   זהב / דולר אמריקאי
I've been bearish Gold all week and, although the price didn't yet confirm my outlook, my opinion hasn't changed, more, I'm even more convinced.
On Friday we have a new attempt by gold to overcome local resistance 1910-1912 but the price fell and close at 1900.
As I said, the rise from 1850 zone is corrective and a break under 1895 would confirm that we have a new lower high in place at 1930 (already the 5th).
Considering one month of distribution this break could dramatically accelerate losses and although my profit target is at 1850 I wouldn't be surprised if gold will fall to 1800 zone.
Those of you who are not short can search to sell rallies and 1910 zone would offer also a fabulous R:R

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