GOLD UPDATE| TECHNICAL ANALYSIS

3 nov 2020

The previously discussed short on GOLD played out nicely and now we are seeing Gold bouncing up from the support.
There are no long opportunities on gold now, but there might be two potential short spots.
One, at the confluence of the falling resistance levels. The other, at the confluence of the green horizontal key level and the rising resistance line.
In both cases, I'd be looking for a reversal pattern and a confirmation for me to enter a short.

In the Video, I forgot to mention, that this week is the US presidential election week and so many might seek to buy gold as a safe haven, so I would not keep large positions open!
It does not mean we should not trade, but I would enter the trades I discussed only if I see a SUPER solid entry point!

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See you then!