Gold- Down continuation is very likely
Updated
As I said yesterday, Gold under 1760-65 zone is bearish...
Yesterday XauUsd managed to break under the short-term ascending trend line and dropped fast to 1728 marking a new local low on our chart.
As expected, volatility followed and at this point, we have now a very short term triangle pattern
I expect new lows in the next days and on medium-term 1680 can be swing trader's target
Those of you who are not already short can look to sell rallies and only Gold back above 1765 would negate this bearish scenario
Yesterday XauUsd managed to break under the short-term ascending trend line and dropped fast to 1728 marking a new local low on our chart.
As expected, volatility followed and at this point, we have now a very short term triangle pattern
I expect new lows in the next days and on medium-term 1680 can be swing trader's target
Those of you who are not already short can look to sell rallies and only Gold back above 1765 would negate this bearish scenario
Comment
Gold can t hold gains This is very bearish
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