GOLD 07.11.2016 D1 chart.
Short term downtrend and correctio to 50% Fibonacci.
Price stopped below a horizontal resistance.
New bar opened with a gap in direction of the last trend and below 50 SMA - strong signal for a new downward movemnet.
Techncial indicators:
DeM(14) reverses below 0,7 - sell
Fundamentals: Strong dollar and the positive sentiment after FBI statement for no reason to set up charges against Clinton are negative for gold price.
SL 1312.00
Jr. Trader Nikolay Georgiev
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