Gold supported at 1800 but bears are still in charge

Nenad Kerkez Top-XE

Gold remains bearish despite support at 1800. Sellers are waiting at the POC zone.

A retracement towards 78.6-88.6 zone is good for sellers. We can also see an order block in addition to strong retracement zone. If we see a retracement towards 1825-30 watch for a renewed wave of selling towards 1816, 1812 and 1800. A break below 1800 and 1791 is next. As long as 1845 is safe, bears should not have any problems.

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

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Author

Nenad Kerkez

Top-XE

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