Gold under pressure
As the DXY strengthened, Gold broke the 1819 support level to trade lower, also resisted by the downward trendline.
Currently consolidating along the 1812 level, Gold is likely to continue sliding lower to test the round number level of 1800. If the price breaks below 1800, the next key support level is at 1785.
Overall, it is hard to anticipate sustained upside moves on Gold. Any retracements to the upside could be seen as a setup for further selling opportunities.
Currently consolidating along the 1812 level, Gold is likely to continue sliding lower to test the round number level of 1800. If the price breaks below 1800, the next key support level is at 1785.
Overall, it is hard to anticipate sustained upside moves on Gold. Any retracements to the upside could be seen as a setup for further selling opportunities.
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