• GOLD - Weekly Report


    Gold is could be in the process of resuming the overall bearish wave that started from 1800.00 top, where the short term trend continues to be clearly bearish, where price is well covered by the 50-days SMA and the main descending trend line for the bearish wave. Accordingly the bearish bias will remain probable so long as 1625.00 key resistance is intact.

    Based on the charts and explanations above, we prefer to short gold below 1610.00 targeting 1590.00,1576.00 and 1560.00. Stop loss above 1625.00

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