Gold corrected the drop from 1960 to 1850 and on Tuesday touched and confirmed 1920 as new strong resistance. At this price bears totally took control and Gold finished the day with a large bullish engulfing. Now the price is in a small consolidation and I expect a new leg down that can drive the price to a new low for this period at 1800 zone. That being said, rallies under 1900 should be sold for a target of 1850 next week.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.