GOLD:
Date: 24 January, 2017
D1 Graph: Medium Term short Trend
Price made a correction after reaching the low of $1125 and now is trading at Fib 38.2%. There is a horizontal resistance zone between $1200-1230. The diagonal resistance is also reached and the price was not able to break it. Price is trading below 200 ЕМА and below horizontal and diagonal resistances.
DEM - The indicator is in overbought zone and turns down for short.
Alternative Scenario: If the price moves up and breaks above the $1230 and above the diagonal resistance, this will cancel the bearish scenario.
Price for Entry short around: $1210
SL:$1230
Trader - S. Fuchedzhiev
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