GOLD Will Go Down From Resistance! Sell!

2 sept

Please, check our technical outlook for GOLD.

Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is testing a major horizontal structure 2,499.791.

Taking into consideration the structure & trend analysis, I believe that the market will reach 2,474.130 level soon.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.

Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!

3 sept

Nota

We are seeing a good move already so we will keep the trade running!