Gold selloff ready to resume?
Gold prices are retesting support-turned-resistance near 1850, where a recently broken rising trend line dating back to August 2021 overlaps with a price congestion zone. The move appears to be corrective for now, and may give way to downtrend resumption (though technical confirmation of reversal is absent at this stage).
Turning lower from here sees initial support at 1787, the latest swing low. Alternatively, extension upward eyes barriers at 1886 and 1919.
Turning lower from here sees initial support at 1787, the latest swing low. Alternatively, extension upward eyes barriers at 1886 and 1919.
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