Gold lost the support earlier today going from $1,119 to $1,109.57 in just a few minutes. With this short-term uptrend broken the establishment of a new downtrend becomes a possibility. Long-term scenario still remains bullish until some major event says otherwise.
Reminder: Gold prices are trading just below the H4 200SMA with heavy resistance at $1,125/oz.
Chart: H1 XAUUSD
I too expect another move to the upside.
ReplyDeleteGold seems remain bullish.
ReplyDeleteDownward trend continues.
ReplyDeleteGreat analysis.
ReplyDelete