GOLD: Price in resistance Area and Trendline with 50% Fibo.SHORT

2 Agu 2022

The Gold from 8 March 2022 started to create high and Low lowers to the previous clear signals for a downtrend side, that's concretely we can see in higher timeframes like the one I show to you. The trendline touched the Higher swings from the period representing a resistance where the price in the past find a barrier to reject, called in swing trading, Pullback. Today we find ourselves again in this kind of situation where yesterday the price closed with a Doji bar that touches the 50% Fibo and the dynamic resistance. Also, I drew in white the Support/resistance area. Well, we are in this scenario, where the price can drop again following the main trend or break the trendline. As we can see in the stochastic there is a divergence like in the past worked were well like signal and the value is in overbought. Last point The forecast of Ichimoku is bearish.

2 Agu 2022

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