PROBABLE REVERSAL FOR GOLD

29 Jan 2019

Currently sitting on a Resistance which hasnt been broken for over 8months i tend to become somehow confident on these levels. Gold has made an incredible run in the last couple of days or week but i dont expect it to go further especially breaking the current resistance Zone. Except the DOW and S&P 500 experience some flash drops at this zone which i believe gold could use its reputation ad a safe haven to break through but otherwise the technicals looks set for a drop..If it indeed breaks through the current resistance then we might be in for some nice ride on there all the way to the next major resistance around the $1360 area.. In the current scenario I'd prepare for a SHORT soon if a bearish reversal candle forms on that zone.