Gold is consolidating in a narrow range, big move on the cards
I have been pretty bearish on Gold in my long-term analyses since May where
the first sell signal was given at 1900. Since then price has dropped massively.
However, the downtrend might not be over yet. Price is just consolidating over the past
few days and there has not been any recover yet.
If the bears manage to take the price through the 1760 level, there is risk for further drop towards 1690.
I recommend everyone to trade cautiously.
the first sell signal was given at 1900. Since then price has dropped massively.
However, the downtrend might not be over yet. Price is just consolidating over the past
few days and there has not been any recover yet.
If the bears manage to take the price through the 1760 level, there is risk for further drop towards 1690.
I recommend everyone to trade cautiously.
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Related publications
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.