Bearish Gold move expected
The precious metal reached $1810 during the European trading hours but changed its direction during US session and last seen at $1798. Gold additional losses are likely with a daily close below $1800. It would attract more sellers who would push the price to $1790 and $1775. A move above $1820 (200 - day SMA) would change scenario to bullish with a $1830 as next target.
Overall, the buyers are struggling and we may see a leg down to next demand area.
Please like and comment if you like the idea. Thank you!
Overall, the buyers are struggling and we may see a leg down to next demand area.
Please like and comment if you like the idea. Thank you!
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