Gold is setting up for another down-move that might soon begin.
The past few days have seen gold bouncing, but it might likely fail soon and bring into play major long-term support.
Considering the near-term the bounce currently looks corrective and may end at any time. Rally attempts keep failing, leading to overlapping price action, which often indicates a counter-trend move is underway and not a reversal.
As such, another low at 1688 undercut won’t be long.
Forex, Crypto, Options, and Binary Options have both large potential rewards and large potential risks. Therefore, before investing or trading any of the assets, ensure you are aware of and willing to accept the accompanying risks. Do not trade money you cannot afford to lose.
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