Gold hits strong resistance @ 1950/60 zone.
Gold had dropped through $1848 lows earlier completing a potential impulse drop. Since then the yellow metal has produced a corrective rally towards $1950/60 levels. The wave structure could be seen as Wave (1) and (2) complete around $1848 and $1950/60 levels. If the above holds, Gold should be resuming its down trend soon from here. Also watch out for a potential push through $1970/80 mark.
Short against $2075, target is open.
Short against $2075, target is open.
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