I expect that gold will drop further this coming week
Gold finished last week trading at 1989.52 this is currently under the 50 day moving average after it fell from last weeks Monday high of 2049.48 . If gold breaks down further we will be looking for the next support around the 1950 level
However if gold manages to break the 2011.87 resistance level then we can expect gold to retest the previous high of 2032 then followed by 2049.48
Gold finished last week trading at 1989.52 this is currently under the 50 day moving average after it fell from last weeks Monday high of 2049.48 . If gold breaks down further we will be looking for the next support around the 1950 level
However if gold manages to break the 2011.87 resistance level then we can expect gold to retest the previous high of 2032 then followed by 2049.48
Trade closed: stop reached