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GOLD : Bearish Reversal In Sight

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Oct 07 2015

GOLD has recovered nicely in the last few days but move from 1104 is in three waves, currently with price trading at trendline resistance. Not only that; notice that leg up from around 1130 is much slower compared to previous sharp rise which is telling us that bullish momentum is decreasing which can lead to bearish reversal. Also trendline is already out for a few points which can cause much deeper sell-off. Ideally price will make a three waves down into wave E.

GOLD, 1H


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