Risk off sentiment but Gold is overextended
Gold formed a double bottom at 1815 support region with a neckline at 1850 region.
The first level of support that price may potentially retrace to before moving higher would be at the neckline level at 1850 region, while the second level of support that price may potentially retrace to before moving higher would be at the potential shoulder level at 1850 region.
However if price were to break below the 1815 support region, price can extend towards the 1790 support region.
*Update on night session: price continues its ascend to key resistance at 1900 region. Momentum is overextended and may look to fall towards support level at 1872 or 1853 region.
The first level of support that price may potentially retrace to before moving higher would be at the neckline level at 1850 region, while the second level of support that price may potentially retrace to before moving higher would be at the potential shoulder level at 1850 region.
However if price were to break below the 1815 support region, price can extend towards the 1790 support region.
*Update on night session: price continues its ascend to key resistance at 1900 region. Momentum is overextended and may look to fall towards support level at 1872 or 1853 region.
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