Gold could renew recent lows

Last Friday we've got DiNapoli bearish grabber weekly pattern, which suggests taking out of previous lows on weekly chart.

This makes us change daily view as well. Currently difficult to forecast definitely how lows will be taken - either just washed slightly or with true breakout.

Bullish context could be re-established, if market will break up recent top and erase the grabber.

While grabber is valid, any long position on daily chart is accompanied by significant risks.

For how better to play this situation and what daily/intraday we see - check our signature link, dedicated to Gold analysis.