Down we go(ld). See the weekly timeframe

Hi Folks:

From the technical point of view it looks like we gonna go down to test, once again, the support trendline.

Fundamentally speaking I think gold is under a lot of pressure due to inflation worries worldwide and its hike rate policies in the main markets USA, EU, England...

I feel more confident holding shorts at this moment.

Cheers


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Trade attivo:

We are currently at the POC of the volume and therefore seems the price most widely accepted by supply/demand factors. MACD is neutral with slight intention to go down. Stochastics with 533 setup (Fast) shows a downtrend movement.