Gold- Looks like is changing the trend
Last week was a quiet one for Gold, with the price ranging between 1850 and 1820.
Looking at the weekly posted chart we can see that at this moment a lower high is in place at the 1875 zone and the price is pressing on 1815 support.
A break of this support could lead to further losses, but more importantly, will confirm a break of the long-term trend line.
In such an instance we can assist to a change of the long-term trend and a drop to 1680 important support is very probable.
Selling rallies is my strategy with negation in a daily close above 1850 case.
Looking at the weekly posted chart we can see that at this moment a lower high is in place at the 1875 zone and the price is pressing on 1815 support.
A break of this support could lead to further losses, but more importantly, will confirm a break of the long-term trend line.
In such an instance we can assist to a change of the long-term trend and a drop to 1680 important support is very probable.
Selling rallies is my strategy with negation in a daily close above 1850 case.
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