Gold Prices Breach Key Chart Support, Trend-Reversal May Follow
-Gold prices broke below the floor of the "Ascending Channel", signaling a bearish trend-reversal
- Fed's hawkish gesture during the June FOMC meeting hammered bullion prices
- 50-day SMA line may be viewed as an immediate support, breaching which may lead to further losses
- Fed's hawkish gesture during the June FOMC meeting hammered bullion prices
- 50-day SMA line may be viewed as an immediate support, breaching which may lead to further losses