Gold collapsed again yesterday exactly as expected..
…..after we tested minor resistance at 4215/17 & reversed form 4221.

• Well done if caught the short trade as we hit my targets of 4160, 4130/20 and the March low at 4099/4097.
• A huge potential profit of up to 1015 ticks.
• In my members Telegram group we also had the chance to sell at 4180/4185 after the CPI number.
• I did not expected the March low at 4099/4097 to act as support so it was no surprise to see further losses & we collapsed as far as 4022 over night.
• Again today gains are likely to be limited despite severely overbought conditions.
• I will be looking for indications that the market will turn around and recover but I definitely don’t see that at the moment.
• For now we have resistance at 4100/4110 & shorts need stops above 4120.
• If we break higher look for resistance at 4150/4155 & shorts need stops above 4165.
• I don’t expect the overnight low at 4022 to act as support for long.
• if we break lower look for 4005/4000, 3985/80, 3974/72 and even 3965/60 is possible.
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