Well Monday my gold trade stopped out with price closing below 20 ma. Next day 5 ema closes below 20 ma sealed the deal. Gold now in bearish trend. To add insult to injury price is also below 200 ma. Sucks! I
Don’t short so on side lines. Made little money on trade so was well played. Now its a game of wait and see. Notice the moving averages on chart below are starting to roll over and slope down. Not good for gold market. Still early so obviously that would quickly change. We’ll see maybe 50 sma will hold.