Gold Price is still holding key levels strong and Bulls seem to still be in control of the market.
I believe Gold is in a temporary consolation due to profit taking traders and Price would still head to the Upside.
A false breakdown of the uptrend support is forming. If the bulls hold their defenses above the key areas as I've indicated and Trendline support, Gold may continue its rise in the short to medium term. But, the short-term outlook depends on the news of the US PMI report.
I believe Gold is in a temporary consolation due to profit taking traders and Price would still head to the Upside.
A false breakdown of the uptrend support is forming. If the bulls hold their defenses above the key areas as I've indicated and Trendline support, Gold may continue its rise in the short to medium term. But, the short-term outlook depends on the news of the US PMI report.
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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.