After Gold broke the descending triangle on June 4 and went as low as 1162 on June 5, the precious metal has been trying to recover and has gained as much as $20 since its last drop. Traders and investors are still unsure whether the break below the support zone is indicative of a massive move to the downside.
Not many important events this week, so it is possible that Gold market would be trading in the range between 1185-1160/oz. The main trend continues to be bearish.
Chart: D1
Gold is still ranging.
ReplyDeleteGreat analysis.
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ReplyDeleteGreat analysis, I will keep it in mind!
ReplyDeleteVery useful information! Thanks.
ReplyDeletenice patterns.
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