GOLD: downtrend, short-term short
Correction after the breakthrough and test of 1170- unsuccessful and new descending impuls in direction of the trend
On the top of the correction formation: Dark-Cloud Cover-Bearish Reversal with potential for decrease
Current formation Three Black Crowes - for decrease
How to positioning on the market. The strong impuls will continues while each subsequent bar has registered lower top
Place for sell will be 50% correction of the current bearish bar or around 1133 with stop 1148, a little above the top of the bar
CCI has decreased below 0, which shows that the descending movement continues
Sentiment: the gold will stay under pressure, waiting in anticipation of tightening the monetary policy of Fed
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.