chartplay

Gold Futures (GC): Prices Pull Back on Weak Demand for Gold

Short
COMEX:GC1!   Gold Futures
The main trend is down. After a weak closing on Thursday, expecting further pull back on Friday. If prices bounce off of $1682 level, then the market may trade within a range from $1682 bottom to $1737 top. If $1682 is broken, the next downside targets are Fib levels at $1660 (0.618) and $1620 (0.5). RSI indicator is pointing toward lower prices.