Gold: ⬇️ Sell
- Gold reversed from strong resistance level 4350.00
- Likely to fall to support level 4200.00
Gold recently reversed from the resistance area between the strong resistance level 4350.00 (which stopped sharp wave (3) in October) and the upper daily Bollinger Band.
The downward reversal from this resistance area stopped the previous impulse waves iii and 3 of the intermediate impulse wave (5).
Given the strength of the resistance level 4350.00 and the overbought daily Stochastic, Gold can be expected to fall to the next support level 4200.00.
 in October) and the upper daily Bollinger Band.){kind=link}