Hello Price Action Traders.
The yellow metal has recently suffered a series of continuous short that have pushed the price from $ 1,385 to $ 1,270 within two weeks. Surely the resistance level at $ 1,385 was a hot zone very pronounced and obvious. Now, given the clear decline in gold prices, we can think to look for a short opportunity. In this case I’d say to be patient and wait for a bounce off toward the area that goes from $ 1,310 to $ 1,330 and then trying short trading signals on the commodity. The next point is located at $ 1,260.
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