Gold (Short)

2 Eki 2018

The last Gold set up I posted had broken through the region of resistance i though a potential reversal would occur. Gold had experience a significant bull run due to the coalition government in Italy refused to cut its 2019 budget deficit plans in defiance of senior European Union figures. This saw European stocks sell off and GOLD/EUR rise as traders left the European stock market and invested into the safe haven of gold. I feel that gold has reached a key level of resistance and has pulled away from its 50 EMA on most time timeframes significantly enough to suggest a pull back to the downside is imminent. Price could pull back to its original trading levels before the news event was released and even continue downwards to my projected target around the 1166 level