Gold sold off again yesterday after a weak bounce in the morning session, though found support at the 200 DMA for the second day in succession.
The market has so far failed to move higher from this "double bottom" and is trading around 1670, remaining below the Wave A bottom and poised to fall further in the next few trading sessions.
The dollar has been consistently falling recently and oil is powering higher, it is concerning that gold is not moving higher in this supportive environment, though wit the RSI near 30, we do not expect the price to fall a lot further.
For our subscribers at www.goldtradingexperts.com, today's video looks at the last few days trading in more detail and our target for this Wave C.
The market has so far failed to move higher from this "double bottom" and is trading around 1670, remaining below the Wave A bottom and poised to fall further in the next few trading sessions.
The dollar has been consistently falling recently and oil is powering higher, it is concerning that gold is not moving higher in this supportive environment, though wit the RSI near 30, we do not expect the price to fall a lot further.
For our subscribers at www.goldtradingexperts.com, today's video looks at the last few days trading in more detail and our target for this Wave C.