Gold- Bulls have problems
In yesterday's comment I said that 1770 and slightly under is a good place to buy for Gold bulls, and, indeed, that level is the line in the send
Taking a closer look though, we can see that the break above 1765-1770 (at that point resistance) and above the down trend line resistance, lacks power and Gold is trading in a range.
At this point, I'm out of Gold but my outlook is becoming bearish
Gold under 1770 would confirm my outlook and, on the other hand, strong buying power above 1790 can take Gold to 1820 resistance
Taking a closer look though, we can see that the break above 1765-1770 (at that point resistance) and above the down trend line resistance, lacks power and Gold is trading in a range.
At this point, I'm out of Gold but my outlook is becoming bearish
Gold under 1770 would confirm my outlook and, on the other hand, strong buying power above 1790 can take Gold to 1820 resistance
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