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30.09.2019 02:33 PM
Gold 09.30.2019 - Downside breakout of the key suupport

Gold has been trading downwards. Important support at the price of $1,483 is broken to the downside and I do expect more downside to come. Next good support and downward objective is set at $1,465.

This image is no longer relevant

Yellow rectangle – Support which became resistance

Green rectangle – Support and objective

Falling purple line – Expected path

MACD oscillator is showing new momentum low, which is good indication for the further downside. I placed Fibonacci expansion to find potential downward target and I got FE 100% at $1,465. Watch for potential selling opportunities on the rallies on 5/15 to time your entries better.

Summary
Urgency
Analytic
Petar Jacimovic
Start trade
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