Gold sellers are waiting in the ambush

Nenad Kerkez Top-XE

Gold is still in downtrend. This week should also be bearish so we should see selling on rallies.

1.1875-90 zone is where we see the big confluence. D H4- 38.2 and D H5 with a weekly H3 resistance level add to the confluence zone. If the market gets there we should see a rejection. Sellers should be waiting there also due to the order block just to the left. Targets are 1867 and 1850. A drop below 1850 will open a way to 1830. I am selling the rallies.

The analysis has been done with the CAMMACD.Core System.

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Author

Nenad Kerkez

Top-XE

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