Analysis: Gold is still ranging around the key moving averages on the market. We have a pretty messy bearish trading channel on the daily chart, were buyers and sellers are actively trading against each other. I market some of the key zones with red boxes, were sellers are pushing the price to the downside. Another buying opportunity can arise around the 1700$ level. If we go back to the 1800$ zone again, that could be a low risk short opportunity for those who missed the last bullish rejection. It's pretty hard to take a safe position at the current price level (1755$) so I advise you to wait until we reach on of the key buy-or-sell zones in the market.
Conclusion: Bearish-with high attention on price actions
Conclusion: Bearish-with high attention on price actions
