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Short

GOLD Will Be Trading Bear Today

FX:XAUUSD   Gold / US-Dollar
172 2 3
Last two candlesticks on XAUUSD             15 minute chart, made a bearish engulfing pattern. Major 15mn chart resistance on chart is 1257.00 (look left). Both RSI & Stoch are overbought and turning south now. In my opinion, gold             will go down another around $24.00 from now's price action which started at resistance of 1257.00. It will drop to around $1232.00 area, which is not on this chart. Keep on trading with trend, support and resistance . Yes, you are in charge here.
thank you for idea. but in the higher timeframes RSI indicates oversold. on the other hand china may attack cheaper gold and its possible to pull it higher levels 1268-1278 maybe higher. what do you think?
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Anbat sulbas
EOW- gold will be higher, but just not today in my opinion. But, remember one person does a CALL trade & one person does a PUT trade- who is smartest? One that got on the right bus at the right time is.
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