gold mid-term outlook bears will target 1785 usd

🔸Hello traders, today let's review 2daily price chart for gold. Heavy rejection
from strong overhead resistance near 2075, sliding S/R contained the bull run
once again.

🔸2015/2020 usd weak horizontal S/R price level, once bears take it out
expecting strong sell side pressure to accelerate, targeting 1950 and 1900 usd.

🔸While the gold price chart looks strong in hindsight, the V-shape recovery
already completed near 2075 usd and therefore and further upside is very
limited, pullback/correction required before we can resume the uptrend.

🔸Recommended strategy position traders: BEARS should wait for weak S/R
breakdown near 2015/2020 usd, and short sell initial target is 1900/1950 usd.
final TP bears is 1785 usd, however keep in mind this is a swing trade setup,
so naturally more time required to hit final TP. good luck!

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