After a quiet day of trading over the Bank Holiday in the UK, gold continues to drift lower, below all of the major MAs and inside a two month old down trend channel.
Whenever gold has risen to the top of the channel it has found resistance and turned back, though the decline has been orderly. We are expecting the down trend to continue until our long term downside target has been hit.
Today's video looks again at this target and why we feel it is an important price point.
Whenever gold has risen to the top of the channel it has found resistance and turned back, though the decline has been orderly. We are expecting the down trend to continue until our long term downside target has been hit.
Today's video looks again at this target and why we feel it is an important price point.