Preferred direction: SELL
Comment: Previous targets for short gold were completely closed with profit. However, the downside potential still relevant. The level of 2000, at which the metal is currently trading, will most likely be broken down soon. Market buyers are still unable to move the price up. Therefore, most likely, this crowd of purchases will be liquidated.
At the end of this week, we expect at least an update of the current local minimums. The movement is expected towards support 1981.683, and even lower, with the potential for a fall to 1960.
Thank you for like and share your views!
Comment: Previous targets for short gold were completely closed with profit. However, the downside potential still relevant. The level of 2000, at which the metal is currently trading, will most likely be broken down soon. Market buyers are still unable to move the price up. Therefore, most likely, this crowd of purchases will be liquidated.
At the end of this week, we expect at least an update of the current local minimums. The movement is expected towards support 1981.683, and even lower, with the potential for a fall to 1960.
Thank you for like and share your views!
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