GOLD Will Go Down! Sell!

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Take a look at our analysis for GOLD.

Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The price is testing a key resistance 2,314.851.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2,290.400 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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ملاحظة

Great beginning for a trade, let’s hope it goes further!