Gold got sold off 2-3% and there were news everywhere.
Well I did the analysis of Gold some time back here in early Dec where the candles were pointing to range bound move ahead.
The comdty got sold off exactly from the resistance of 1430 levels and is now at lows of last 3 weeks.
The candles still are bearish pointing to reversal with selloff coming at highs above 1415 levels.
What to expect now: The charts are certainly range bound with resistance at 1435 levels. The bullish trend though is still intact with trendline support intact.
The comdty can see some cooling off to the 1350 levels where volume action can be judged for further upside.
Well I did the analysis of Gold some time back here in early Dec where the candles were pointing to range bound move ahead.
The comdty got sold off exactly from the resistance of 1430 levels and is now at lows of last 3 weeks.
The candles still are bearish pointing to reversal with selloff coming at highs above 1415 levels.
What to expect now: The charts are certainly range bound with resistance at 1435 levels. The bullish trend though is still intact with trendline support intact.
The comdty can see some cooling off to the 1350 levels where volume action can be judged for further upside.
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