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GOLD: trend-short in correction with possible of decrease

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GOLD: trend-short in correction,price under 20 period moving average,mean correction remain in force.

At the moment price reach its horizontal and diagonal resistance at 1220 and it is risky for opening a position.

MACD divergent on H4 and daily graphic .Waiting for current bar,if price close under its horizontal resistance and pass under 1213 will give signal for new negative impulse.

Break above 1220 and if the price remain above its resistance ,now support,possible ascending impulse with target 1230.

Attention: Expecting data from ISM and PMI ,which will affect the price of the dollar and gold.


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