GOLD MASSIVE SHORT|THE MAGIC OF NUMBERS

29 giu 2020

Gold is trading in a reverse triangle/opening wedge, near the ultimate 1800 level.

Even if not fundamentally significant, 1800 level is psychologically important. A big round number and also the previous resistance area.

Thus, while not implying that gold will collapse(so don't bark at me, local gold bugs), I am expecting a correction, that is due, and the best strategic level for entry is 1800.

The uptrend support line is far below and a return to it, will simply be a bullish signal.

The Stop loss here is utterly arbitrary, and accounts for that such massive resistance is an area not a line, and that some fake breakout is possible too.

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