Gold (DEC)
This trade did not go as anticipated.
We expected Gold to hold above 1842 but it got crushed and made this morning a low of 1819.
The question we get is would you go long again or do you expect Gold to move lower.
We show two Gold charts, one long term and the other short term.
As you can see the Gold price broke the 1842 support level to move into a short-term bearish zone.
To get a new entry level to buy Gold we need an intraday close above 1835.
The suggested sell stop is 1814.
If Gold closes below 1814 that would give the indication that Gold has not yet bottomed.
We will then need to wait to get a better entry level.
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Gold Nov 24 lt
Gold Nov 24 st
