GOLD has breached and closed below a significant daily horizontal support level.
Prior to this violation the support level, the price was consolidating in a tight horizontal range.
The bearish breakout from this trading range is a strong indicator of further declines.
The pair could continue to drop after retesting the broken structure to 3122 level.
Prior to this violation the support level, the price was consolidating in a tight horizontal range.
The bearish breakout from this trading range is a strong indicator of further declines.
The pair could continue to drop after retesting the broken structure to 3122 level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.