Will Gold break under 1800 this week?
After a low around 1820 last Monday, Gold has spent all last week in a range between this level and 1860 high resistance.
Friday the price encountered selling pressure and Gold has finished the week to the low boundary of the range.
Today s open was also weak for the yellow metal and we have a new local low at 1803.
From the technical point of view, we have a break under support and at the time of writing Gold is testing old support as new resistance.
From this point, bears need a continuation to the downside and if this will be the case a break under 1800 is very probable.
I'm selling Gold this week and only a break above 1860 would change my bearish perspective
Friday the price encountered selling pressure and Gold has finished the week to the low boundary of the range.
Today s open was also weak for the yellow metal and we have a new local low at 1803.
From the technical point of view, we have a break under support and at the time of writing Gold is testing old support as new resistance.
From this point, bears need a continuation to the downside and if this will be the case a break under 1800 is very probable.
I'm selling Gold this week and only a break above 1860 would change my bearish perspective
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