GOLD downside reversal in the cards


Gold dropped below the uptrend line. It has found demand at 1,784.47, and now it may come back to retest the uptrend line. 1,777.14 is seen as a downside obstacle. If the price drops and stays below it, it would announce a larger drop.

Trading conclusion

Staying under the broken uptrend line and dropping below the 1,777.14 level could activate a larger drop in the upcoming period.

The material has been provided by InstaForex Company -