grew up on Friday and is testing the level of resistance 1273.80 - 1276.20, where large volume
is concentrated. The move was on large volume
, so we should wait for the reaction of the price to the resistance in order to understand the further direction of gold
. Of course, given the presence of large volume
accumulation at the top of the chart and the local downtrend, we must give advantage to short positions.
Sales should be opened after a strong and sharp rebound of the price from the resistance. The move should be on large volume
, so it will be a more accurate signal for entering the market. A stop loss should be placed above the level 1276.20. A potential of the deal is 120 points.
The bottom line: short positions after a strong rebound of the price.