Gold- a deep correction is posible
In Yesterday's comment, I've written that Gold could rise towards 2020 resistance.
Although this resistance wasn't touched the price was close to it. Sellers came into the market and the price dropped aggressively.
Only around 1980 support bulls managed to gain control and to push the price higher and above 2k important figure.
But, with price at 1988 at the time of writing, we see that there is a lack of power on the buy-side.
That being said I expect a deep correction for the yellow metal in the next days and in my opinion rallies above 2000 should be sold.
Only a daily close above 2020 would change this outlook
Although this resistance wasn't touched the price was close to it. Sellers came into the market and the price dropped aggressively.
Only around 1980 support bulls managed to gain control and to push the price higher and above 2k important figure.
But, with price at 1988 at the time of writing, we see that there is a lack of power on the buy-side.
That being said I expect a deep correction for the yellow metal in the next days and in my opinion rallies above 2000 should be sold.
Only a daily close above 2020 would change this outlook
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