After ending its large retest on the bullish rally, price was unable to break the fundamental resistance trend line from the all time high, tapping into 1950.
We saw a downward momentum to as we expect a retest of previous August lows. So far, gold seems to maintain its bearish direction. We will expect a strong resistance at the 1900 psychological levels, and potentially at retest of 1910-1920 levels before driving down to test previous lows.
Next area to look for will be at 1900 level for a potential buy.
Buys at 1899-1902
Sells at 1913-1917
We saw a downward momentum to as we expect a retest of previous August lows. So far, gold seems to maintain its bearish direction. We will expect a strong resistance at the 1900 psychological levels, and potentially at retest of 1910-1920 levels before driving down to test previous lows.
Next area to look for will be at 1900 level for a potential buy.
Buys at 1899-1902
Sells at 1913-1917