Gold- my two bearish scenarios
As I argued last week, Gold can change its medium-term trend to bearish, and after breaking under 1800, we have a confirmation for this.
With this bearish view in mind, I have 2 scenarios for price evolution:
Scenario 1:
Gold will break down its short-term consolidation and drop towards 1700 zone without correcting and testing 1755-1760 resistance zone
Scenario 2:
Gold will correct and test resistance and fall after to a new local low
In any case, Gold is strongly bearish as long as it stays under 1760
With this bearish view in mind, I have 2 scenarios for price evolution:
Scenario 1:
Gold will break down its short-term consolidation and drop towards 1700 zone without correcting and testing 1755-1760 resistance zone
Scenario 2:
Gold will correct and test resistance and fall after to a new local low
In any case, Gold is strongly bearish as long as it stays under 1760
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