Gold retests MAJOR resistance level

Gold retests MAJOR resistance level

Gold has rallied to a massive level which was where seller jumped in and Gold dipped 6% and 10% respectively after (Sept 15 & Nov 09 2020).

Technically speaking this level confluences with the retest of the current structure, major short term bullish target and massive bearish divergence.

This short idea is risky and should be in play only if the reversal pattern breaks. Should this happen we could see Gold retest the previous broken level and the bottom of the structure with momentum players jumping in.

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Author : Orlando Gutierrez

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