Gold- Bears have won the battle

2022年10月11日

In my yesterday's commentary, I said that is imperative for bulls to maintain 1680 intact, and they failed to do this.
Gold dropped pretty hard and closed again under this important level.
Considering that the recent rally stopped exactly in the falling channel's trend line and this recent failure to stay above 1680 support we can expect continuation to the downside.
1680 zone is now resistance and rallies in that zone should be sold.
Support lies between 1615-1620