Gold could go down further

23 thg 7

In my analysis yesterday, I mentioned that gold could drop below $2400, and indeed it did. After touching the support zone around $2390, the price reversed to the upside.
However, the bulls seem weak and unable to sustain the price above $2400, with the price now pressing against the support.

A break below this level looks probable, and the price could drop further to the important support at $2350. My strategy is to sell rallies above $2400.