Gold is still in a bearish movement. I expected gold to retrace from 1828-1825(montly low) Gold managed to give a small rejection but afterwards the fall proceeded. After the break of 1830-1825 support. Gold may fall as low as 1810-1805. This is were i will look for my last longterm buy. If 1805 fails and gold keeps declining under 1800 gold will drop hard and it will take a while before a good proper Support level will hold the fall again.
Looking at the daily chart. Gold managed to close below the daily channel. The question is, is this a fakeout? If not, posible retest of the daily channel and gold will fall again. If yes, gold will eventually seek for 1840-1860-1885 resistance levels. before the bearish movement continu's
Support: 1810-1805-1800
Resistance: 1828-1840-1860-1885
Looking at the daily chart. Gold managed to close below the daily channel. The question is, is this a fakeout? If not, posible retest of the daily channel and gold will fall again. If yes, gold will eventually seek for 1840-1860-1885 resistance levels. before the bearish movement continu's
Support: 1810-1805-1800
Resistance: 1828-1840-1860-1885