Mihai_Iacob

Gold to break under support?

Kort
OANDA:XAUUSD   Guld / USA-dollar
In my yesterday's commentary, I said that Gold is still under selling pressure and, indeed, after a failed attempt to conquer 1950, the price fell quickly to 1920 support putting in a bearish engulfing on our h4 chart and the day is marked by a long-tailed bearish candle.
At the time of writing XauUsd is trading at 1919, exactly in the up-mentioned support zone.
A break of this support looks imminent and the first target for bears is 1880 support.
My recommendation remains the same: sell rallies as long as the price is under 1950

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