For current price: 1978
Key point: 2008
Our preferred direction: short positions below 2008 levels, targeting 1952 as a first target, then 1935 as a second target.
Alternative scenario: stop loss and change direction by breaking the 2008 level while targeting 2011 levels
Technical comment
Gold formed its last bullish wave on the daily timeframe, last week, at 2047 levels, to break the formed bullish trend line and start a five-way downside wave, whose targets will be the upcoming support levels 1952-1935
