Today’s update, profit takers look to be moving in on gold. Could this become a new retracement that takes price back to the main uptrend point?
After sellers managed to snap buyer momentum yesterday, we are seeing more selling so far today. Price, for now, looks to have found resistance from 1920 up to 1929. Pressure is on the fast uptrend, and we are wondering if sellers can break it. Will we see a further short-term downside?
Today’s video is not looking for short-selling opportunities due to the current uptrend. We will be looking to see if buyers can resume the trend once this reaction or minor correction finishes.