Gold in Bear Play
As Recession fears increase, and inflation rises, more and more Central Banks are increasing their rates. As the US Fed boosts the dollar, this will put a downward pressure on gold.
The ban on Russian gold has given a temporary respite to the price of gold which will momentarily go towards 1850 before heading down towards 1800.
The movement is following a typical Wykoff price action play.
Choppy side price action indicates that bears are still at play.
My trade: Short Gold.
My TP1: 1810, with further TPs further below.
The ban on Russian gold has given a temporary respite to the price of gold which will momentarily go towards 1850 before heading down towards 1800.
The movement is following a typical Wykoff price action play.
Choppy side price action indicates that bears are still at play.
My trade: Short Gold.
My TP1: 1810, with further TPs further below.
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