Potential Downtrend for GOLD

7 set 2015

Gold could descend. If price breaks and closes below the 1118 level, a short sell recommendation is advised. Last week's candle formed a bearish pinbar, signaling sellers are in the market. Daily moving averages are almost crossing. Might cross if price breaks below the 1118 level. If price breaks... next target would be 1104(first fib extension), and that target is smashed, then second target would be 1082(second fib extension).