After finding resistance at the rising trendline that was broken on Monday, gold sold off for most of the day yesterday and has continued to sell off this morning.
The selling is mild and orderly however and the market is still seeing lots of physical demand.
With the RSI on the daily chart falling towards 50, we do not expect to see significant further declines from here, though it is likely that there will be some further selling in the next day or two.
Today's video looks at the action from yesterday in more detail, our strategy for our next trade and some important Fib retracement levels.
The selling is mild and orderly however and the market is still seeing lots of physical demand.
With the RSI on the daily chart falling towards 50, we do not expect to see significant further declines from here, though it is likely that there will be some further selling in the next day or two.
Today's video looks at the action from yesterday in more detail, our strategy for our next trade and some important Fib retracement levels.
