In my written and video comments from last week, I mentioned that I expected gold to drop in a new downward leg and indicated the 2350-2360 range as the sell zone.
Indeed, after touching this zone twice, the price dropped and closed the week near the 2325 support level.
This week's opening saw a drop below this support, and at the time of writing, gold is trading at 2318.
I anticipate further downside movement and a drop below the important 2300 level.
My target is the 2285 support zone.
Indeed, after touching this zone twice, the price dropped and closed the week near the 2325 support level.
This week's opening saw a drop below this support, and at the time of writing, gold is trading at 2318.
I anticipate further downside movement and a drop below the important 2300 level.
My target is the 2285 support zone.
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