Gold- 1800 and slightly above should be sold

31 Oca 2022

In my weekend analysis, I said that the strong bearish engulfing (visible on the weekly chart) that not only engulfs the rise from the beginning of the year, but 5 weeks of trading is a strong indication that the most probable move is down.
At this moment, Gold is trading at 1787, slightly above support and potential rallies from this support should be considered a good opportunity for bears.
1805-1810 zone would be an ideal zone for selling and only XauUsd back above 1830 would negate this strongly bearish scenario