GOLD: downtrend corrective movement to the short diagonal levels of resistance.
Three more consecutive lower peaks and 2 deep lows – the trend is downward.
The price tested the diagonal resistance forming negative formation bars Dark-Cloud Cover – Bearish Reversal
The formation is short for possible reversal of short-term Long.
Turmoil in the stock and financial markets led to a rise in gold, but such conditions are short, just give me good levels to sell.
The situation can be traded to sell from current levels after a slight correction to 1154.50 or after the fall of CCI below 0.
I choose to sell after adjustment 1154.50
Stefan D. Angelov – Head of Stocks Trading