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GOLD Bears are Strong While the Price is Below 1550

By:
Nenad Kerkez
Published: Mar 19, 2020, 08:32 UTC

The GOLD is very bearish. The price is consolidating below 1550 and 1450. While the price is below 1550 we should see a move lower.

gold usd

Dear Traders,

The GOLD is very bearish. The price is consolidating below 1550 and 1450. While the price is below 1550 we should see a move lower.

1550 zone is the crucial for bearish downtrend. Ne rejections should happen between 1525-50 towards 1475. If we see a close below 1475, watch for the bearish continuation move towards 1440 and 1420. 1420 is a W L4 camarilla pivot and ATR projection low. Only above 1550, we might see a correction towards 1583.

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The Analysis has been done with the CAMMACD.Core and Sit Systems

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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