Two days ago, Gold dropped hard with a daily range of 600 pips from top to bottom. As normal, this drop found strong support in 1900 and we may wonder "now what?".
In my opinion, even in a medium-term bearish scenario, the price should have a new leg up and a challenge of 1930-1935 resistance and dips slightly above 1900 should be bought.
On the other hand, a daily and weekly close under 1900 would negate this scenario and would be very bearish for Gold
In my opinion, even in a medium-term bearish scenario, the price should have a new leg up and a challenge of 1930-1935 resistance and dips slightly above 1900 should be bought.
On the other hand, a daily and weekly close under 1900 would negate this scenario and would be very bearish for Gold
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