Taking a dive from the resistance level of the daily and the H4, we are looking to short the GOLD preemptively of the PMI today. Market is in a bullish direction but we are taking a chance on the corrective move on the gold. Profit will be lesser than the trend alignement.

The trendline needs to be retested in order to confluence with the resistance level.

The retracement level is in confluence with the resistance level and will continue to do so.

EMA 50 is still bullish which means, we still need to look out for any possible movemeny upwards.

RSI is at 64, which needs to tap at the over bough region in order to fall back.

Enjoy Gold profits

Dec 09 2022