Gold update- would today be the day?

27 окт. 2020 г.

Yes, I'm very bearish Gold on the medium term and to be honest this "I'm holding 1900, come, buy and make money" looks like a big trap for bulls.
Although this morning I was slightly bullish for very short term moves, the steep reversal from 1910 zone convinced me to have only one trade side for the yellow metal, sell
Now again the price is just above 1900 and if this finally fall (and it should soon) I expect the drop to be quick and hard
Gaines should be well caped under 1910 now, and eventual rallies should be sold
Also, for now, I'm maintaining my target of 1850 but I wouldn't be surprised of a drop lower if we finally have a 1900 break