Gold- The overall structure remains bearish
Yesterday, Gold bulls defended very well 1890 zone and have managed to drive the price above 1900 key zone.
Although on a short time frame price looks bullish I remain to my opinion that the overall structure is bearish and I wouldn't change this outlook as long as the price doesn't stay very well bided above 1920.
From the technical point of view, XauUsd is still contained in a range with a bullish bias.
A daily close above 1920 would expose 1950 zone and, on the other hand, a drop under 1890 would accelerate losses and I see Gold dropping to 1800 zone
Although on a short time frame price looks bullish I remain to my opinion that the overall structure is bearish and I wouldn't change this outlook as long as the price doesn't stay very well bided above 1920.
From the technical point of view, XauUsd is still contained in a range with a bullish bias.
A daily close above 1920 would expose 1950 zone and, on the other hand, a drop under 1890 would accelerate losses and I see Gold dropping to 1800 zone
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