Gold is currently trading within a bear flag pattern after a strong correction down from 1960. Resistance of 1880/1888 is playing an important role now that it has to hold strong in order for the down continuation. Once the price manages to break and close below 1860 then this could push the price down to 1855/43/34. On the flip side, if the price break and close above 1888 then the above target would be 1897/1902.
Trade attivo:
The target for 1855 & 1843 was achieved as we have highlighted this since 8/2 and also monitor closely level by level in our channel. Now another potential target below would be 1834.
Trade chiuso: obiettivo raggiunto:
1834 target achieved with full closed. This bear flag pattern is completed.