I'm definitely long term bullish on gold but current price action is calling for more bearishness,especially with the bearish engulfing candle we see on the daily chart. I'm looking for a swing lower towards the 1800s price regions before contemplating a buy.
Note
We expect further downside for gold towards the 1820 price level this week. US CPI will be on the table for the week.
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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.