Gold update- Do we have the needed clarification?
In this morning commentary, I said that we need clarification for the next direction on Gold.
More, yesterday I was drawing attention to a series of lower highs that xauusd is putting in from the all-time high and about the fact that the rise from 1850 is corrective in nature.
Yesterday Gold failed on 1910 resistance and again, today, failed to stay above 1900 figure. Also, we have a new lower high in the1930 zone
This gives me a good reason to be bearish and I expect acceleration to the down-side.
My target is 1850 support. Interim support is 1880 yesterday's low
More, yesterday I was drawing attention to a series of lower highs that xauusd is putting in from the all-time high and about the fact that the rise from 1850 is corrective in nature.
Yesterday Gold failed on 1910 resistance and again, today, failed to stay above 1900 figure. Also, we have a new lower high in the1930 zone
This gives me a good reason to be bearish and I expect acceleration to the down-side.
My target is 1850 support. Interim support is 1880 yesterday's low
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