Gold futures have retraced .618 to 1915.71 from the high on the daily chart, and is attempting a reversal from a daily double bottom. Oversold on the daily RSI(9). It also sits on a key Gann confluence area (the circle) at 1921.50.
Must hold here, or else risk falling lower in a low volume area to 1894.6 (low volume node).
I expect upside in the near future, the recent selloff is nothing more than expected seasonal action which should end before fourth quarter.
Must hold here, or else risk falling lower in a low volume area to 1894.6 (low volume node).
I expect upside in the near future, the recent selloff is nothing more than expected seasonal action which should end before fourth quarter.