Gold - market update after strong breakout - sell on 1H
Gold price broke out of down trend this week and has shown a strong up movement to first strong resistance trend line at 1296 $
Expect strong sellers coming into the market.
-RSI is already in heavy overbought area in 1-4 H hour chart which brings sellers into the market
-MACD baselines going to cross bearish which brings sellers into the market
-open short if the next 2-3 hour candles close under trend line resistance, if the trend line doesn't break down next resistance is 1302 $
Expect strong sellers coming into the market.
-RSI is already in heavy overbought area in 1-4 H hour chart which brings sellers into the market
-MACD baselines going to cross bearish which brings sellers into the market
-open short if the next 2-3 hour candles close under trend line resistance, if the trend line doesn't break down next resistance is 1302 $
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
