Gold continued to lose momentum due to rising yield in the us bond market and has rejected 1720s and is currently consolidating again after having jumped to 1760 earlier during the opening of the market Sunday.
A possible double bottom formation could be in play to give a breather for prices to climb higher an retest previous support no resistance at 1760-1810 with a combination of both indicators RSI And Macd in oversold territory
Also expecting some cooling of rising interest rates 10 yrs treasury bond
A possible double bottom formation could be in play to give a breather for prices to climb higher an retest previous support no resistance at 1760-1810 with a combination of both indicators RSI And Macd in oversold territory
Also expecting some cooling of rising interest rates 10 yrs treasury bond