Gold could accelerate its losses

18 בנוב׳ 2020

Yesterday I've spoken about maintaining my bearish bias on Gold and, after a boring consolidation and very tight range, XauUsd broke under 1885 short term support.
The medium-term trend is clearly down for the yellow metal and I expect the drop to continue and gain some power.
Now 1885-1890 is resistance and rallies in that zone should be sold.
My target for Gold remains 1850 for now but if/when this level will fall Gold could tumble to 1800 and even under to 1750 very important support