Bears Take Control of Gold | Vantage FX

Bears Take Control of Gold

December 13, 2017

Good morning traders,

The higher time frame resistance zone has held nicely and price has made a new low to confirm the rejection:

XAU/USD Daily:

Click on chart to see a larger view.

As you can see on the daily chart above, the bears are firmly in control of the market.

Now stepping into an intraday chart, you can see our tried and tested stepping pattern playing out:

XAU/USD Hourly:

Click on chart to see a larger view.

Previous short term support turns to resistance each time, giving savvy day traders an opportunity to manage their risk.

Best of probabilities to you!

Dane Williams – Vantage FX

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, news, research, tools, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently, any person acting on it does so entirely at their own risk. The expert writers express their personal opinions and will not assume any responsibility whatsoever for the forex trading account of the reader. We always aim for maximum accuracy and timeliness, and Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.

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