Gold has reversed at 1337.28 and now has formed 3 red bricks, which have passed beneath the 8 EMA. A short position could be considered from here , in line with the longer term logic. Stop loss would be above the 8 EMA.
Note
Gold has reached the 127 fib extension , with current price 1285. Partial profits could be considered here. Next target 1274.
Note
Final target next at 1259 :] .
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.