The "Death cross" where the 50 EMA crossed the 200 EMA on the Daily chart to the down side took place on the 4th of march, since then Gold Failed to keep up with the bullish trend it started on Jan 2019.
Now there is a new downtrend being formed with a strong support area it failed to break twice.
I would only take sell trades from here. Any touch back to the downtrend line would be a sell signal for me.
Breaking the strong support area will take us to the old 1600 level.
Now there is a new downtrend being formed with a strong support area it failed to break twice.
I would only take sell trades from here. Any touch back to the downtrend line would be a sell signal for me.
Breaking the strong support area will take us to the old 1600 level.