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🥇GOLD - Why is gold likely to fall?
GOLD may continue its decline as the metal is loaded on the resistance side. Bears are a bit stronger than buyers at the moment. The market continues to test support areas, which in all likelihood may lead to a decline in the medium term
Reasons for further declines:
1) Downtrend
2) Dollar support, index is rising
3) Price is not updating highs, but updating lows
4) PDL retest is forming, another test may break the level
5) Capital flows to other assets, US Indices (dollar SP500), gold may fall even lower
Reasons for further declines:
1) Downtrend
2) Dollar support, index is rising
3) Price is not updating highs, but updating lows
4) PDL retest is forming, another test may break the level
5) Capital flows to other assets, US Indices (dollar SP500), gold may fall even lower
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