Scandex Market Update – April 23

Thursday, 23/04/2020 | 05:56 GMT

Disclaimer

Resistance was hit today in gold. Futures printed a high of 1742.40 and spot traded 1718.70 at its best level. I obviously don’t know for certain if that was the end of the rally but it is a good sign (for a bear) that price reacted where it should have. I am bearish but not yet short. A break below the line that connects lows since 4/21 (not shown here but can be drawn on an intraday chart) would serve as the signal to short.

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Source: https://scandex.com/2020/04/23/market-update-april-23/

Disclaimer

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