Mihai_Iacob

Gold- New visit to previous low?

שורט
Mihai_Iacob מעודכן   
OANDA:XAUUSD   זהב / דולר אמריקאי
In my yesterday's commentary I said that "bears have won the battle" and, after yesterday's price action, this seems pretty clear.
The intraday correction was met with strong selling in important 1680 resistance and the price dropped quickly in support giving us clues that the pressure remains on the downside.
Technically, as said, the 1680 zone offers resistance and bears can target the 1620 zone (or the previous low) for their trades.
I'm bearish as long as the price stays under 1700 in closing day terms and I'm looking to sell rallies

My yesterday's analysis:

הערה:
I'm closing Gold short with minimum profit.
Looks stuck at 1660

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