has fallen sharply today as global markets recover slightly. Now price is currently in a pullback, in which price could be vulnerable for another break to test the final support level
. Nevertheless, gold
could recover sharply this week if global markets return to red. After all, we cannot forget that the market sell-off last week signal that sentiment is bearish
Price swings to the topside of the bearish channel
. Profit levels to look for are 1230.00 & 1240.00.
Bearish Bearish Breakout:
Price breaks final support level
of the bullish channel
. Look for consolidation below 1200.00.