🚨 $GOLD 1W COPY SUPPLY - BEARISH
Gold is forming a Weekly Copy Supply Pattern.
CONCEPT:
The original supply at $4,750 failed twice. Now the same supply is copied at $4,466.
SETUP:
Symbol: CFDs on Gold (US$ / OZ)
Timeframe: 1W
Price: $4,283.85
Supply Zone: $4,375 - $4,466
Invalidation: Weekly close above $4,466 (Supply Past Here)
Target: $3,910
There are 3 Working Supplies above ($5,400 / $4,860 / $4,660), so this $4,375 zone will also fail. Expecting move to $3,910.
What do you think? Will $GOLD drop to $3,910?
$GOLD #XAUUSD #GOLD
Gold is forming a Weekly Copy Supply Pattern.
CONCEPT:
The original supply at $4,750 failed twice. Now the same supply is copied at $4,466.
SETUP:
Symbol: CFDs on Gold (US$ / OZ)
Timeframe: 1W
Price: $4,283.85
Supply Zone: $4,375 - $4,466
Invalidation: Weekly close above $4,466 (Supply Past Here)
Target: $3,910
There are 3 Working Supplies above ($5,400 / $4,860 / $4,660), so this $4,375 zone will also fail. Expecting move to $3,910.
What do you think? Will $GOLD drop to $3,910?
$GOLD #XAUUSD #GOLD
