Gold price has gone below 17 January price, this represents a cycle failure, the support where price is sitting on will give way and the $2,000 level is lost, bulls who were waiting for "to the moon" will only help the bear cause as they trigger stop losses. However this will present a good buying opportunity not far ahead.
Trade closed manually
After a brief dig, gold resolved back upwards. It is likely in a new weekly cycle albeit already overbought.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.