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Why 95% of Traders Fail

Gold Reversal and Last Chance for Stock Market Shorts

Stock-Markets / Stock Markets 2016 Feb 05, 2016 - 04:58 PM GMT

By: Anthony_Cherniawski

Stock-Markets

Gold reversed this morning after making a throw-over above the ending diagonal formation. So far, the low is at 1145.68. A decline beneath 1138.00 puts it back into the formation,, while a break at 1126.88 confirms the new trend.


SPX declined to Short-term support at 1897.23 and made a brief corrective bounce. The bounce may be over and support may now be broken.

This is likely to be the last good place to put on short positions.

Regards,

Tony

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