Bearish pressure and Divergence in gold
Updated
Gold is running in the parallel channel for quite some time now. Yesterday gold played against the fundamentals and seems to be respecting price action now. As for now we need to see in which direction gold is going to break this parallel channel.
Gold staying above 2000 still means that it might go for a bull run again, given the buyers support stays strong around 2000-2003.
a successfull break of this support might get gold falling towards 1985, an area of another support. Let us see how it plays out.
Good luck.
Gold staying above 2000 still means that it might go for a bull run again, given the buyers support stays strong around 2000-2003.
a successfull break of this support might get gold falling towards 1985, an area of another support. Let us see how it plays out.
Good luck.
Trade closed: target reached
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