Last week was a volatile one for Gold and on Thursday the price broke under important 1970 support, just to aggressively reverse back above on Friday.
Although the short-term trend is bearish, both long and medium-term trends remain strongly bullish and this break could very well be a false one.
From a short-term perspective, the price is still under the falling trend line, but, a break above this trend line would put the "false break" scenario in play and expose the 2k zone which now should act as resistance.
Although the short-term trend is bearish, both long and medium-term trends remain strongly bullish and this break could very well be a false one.
From a short-term perspective, the price is still under the falling trend line, but, a break above this trend line would put the "false break" scenario in play and expose the 2k zone which now should act as resistance.
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