GOLD going to test 1700 area.
Three main areas of support: 1716, 1703 and 1677.
Today's candle and trade range, with lower lows, suggests a possible bear continuation to 1716 area, followed by 1703 and 1677. Almost the same movements as seen in the chart with previous lows.
Current FED comments and the fundamentals implied are backing up this idea in the long term.
Only relevant data from USA may change the bear trend.
Cheers.
Today's candle and trade range, with lower lows, suggests a possible bear continuation to 1716 area, followed by 1703 and 1677. Almost the same movements as seen in the chart with previous lows.
Current FED comments and the fundamentals implied are backing up this idea in the long term.
Only relevant data from USA may change the bear trend.
Cheers.
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