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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


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