Gold seems to have bounced off its resistance area and appears weak around the resistance at 1242.8.
It is worth going short at these levels with stop loss above 1243-46 and aim for 1180 - 1215.
However one should be careful by not risking to much as the USD index has appeared weak the last couple of days and could thus reverse/retrace for a little while which could be bullish for gold (perhaps a short term bottom?)
It is worth going short at these levels with stop loss above 1243-46 and aim for 1180 - 1215.
However one should be careful by not risking to much as the USD index has appeared weak the last couple of days and could thus reverse/retrace for a little while which could be bullish for gold (perhaps a short term bottom?)
