Gold remained under pressure all day yesterday, falling to a low of 1689 in the afternoon before rallying weakly back up to 1700. The uninspiring recovery continued this morning, with gold failing to break above 1700 and poised for further losses.
We expect a test of 1672 shortly, and should that give way the next target is 1630. The action of the last couple of days has turned the charts bearish on a short term time frame and it would take a move above 1718 to change this view.
For our subscribers at www.goldtradingexperts.com, today's video looks at yesterday's action in more detail and the short term chart pattern developing.
We expect a test of 1672 shortly, and should that give way the next target is 1630. The action of the last couple of days has turned the charts bearish on a short term time frame and it would take a move above 1718 to change this view.
For our subscribers at www.goldtradingexperts.com, today's video looks at yesterday's action in more detail and the short term chart pattern developing.