Gold to break under 1700? Finally...
Since last week, Gold is trading in a very tight range with no clear direction so far.
However, considering that the trend is strongly down and the fact that on Monday 1725 resistance was very well defended by bears, I expect a break under 1700 and continuation to the downside.
The first important support, as I argued several times in the past weeks, is 1680 and a break under 1700 would definitely expose it.
Only a daily close above 1725 would change my bearish outlook
However, considering that the trend is strongly down and the fact that on Monday 1725 resistance was very well defended by bears, I expect a break under 1700 and continuation to the downside.
The first important support, as I argued several times in the past weeks, is 1680 and a break under 1700 would definitely expose it.
Only a daily close above 1725 would change my bearish outlook
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