Gold - Bears appear in control
Gold's retreat from 5-DMA in Asia coupled with bearish 5-DMA and 10-DMA crossover if followed by a day end closing inside the expanding channel formation would strengthen bears and open doors for a slide to $1300 levels over the next week.
On the higher side, failure to dip below upper end of the expanding channel could yield a re-test of 5-DMA of $1345, however, caution is advised since upticks are likely to be met with fresh offers.
On the higher side, failure to dip below upper end of the expanding channel could yield a re-test of 5-DMA of $1345, however, caution is advised since upticks are likely to be met with fresh offers.
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