Gold – weakness in the near term
Gold has retreated after testing its resistance near $1,795-$1,800 range, suggesting limited upside potential, further it has been trading in a lower top lower bottom formation suggesting weakness in the medium term and further downside potential. It would be prudent to say that Gold could decline towards $1,765 and $1,750 while it sustains below $1,805.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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