Note that with the opening of the US trading session in about 30 minutes Gold may see a stronger sell wave if US markets open with a gap up as rumored along with Chinese stock market.
Chart: D1 XAUUSD
Wednesday, August 26, 2015
Gold Sell-Off Continues
For a second day Gold posts significant losses. Today, so far, Gold is trading at $1,126.70, losing as much as $13.70 (1.20%). Lowest so far was the dip below $1,124. Partly, the sell-off is due to a stronger US dollar (EURUSD is currently trading at 1.1370) and due to technical resistance at $1,167 indicating a change of trend (see chart below).
Note that with the opening of the US trading session in about 30 minutes Gold may see a stronger sell wave if US markets open with a gap up as rumored along with Chinese stock market.
Chart: D1 XAUUSD
Note that with the opening of the US trading session in about 30 minutes Gold may see a stronger sell wave if US markets open with a gap up as rumored along with Chinese stock market.
Chart: D1 XAUUSD
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The question is whether it will break below the support at 1120.
ReplyDeleteGood point. I'll keep a close eye on it.
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