A deep retracement will occur in Gold XAUUSD?
Spot gold may bounce towards 1949-1960, price now 1927. While a break above 1960 may lead to a gain to 1979.
On the daily chart, the big black candle on Monday and the break below 1960 strongly suggest a further drop to 1925. A break below 1925 could open the way towards 1890.
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Gold XAUUSD Weekly Level
R3 2152.54
R2 2111.42
R1 2041.04
Pivot 1999.92
S1 1929.55
S2 1888.42
S3 1818.05
On the daily chart, the big black candle on Monday and the break below 1960 strongly suggest a further drop to 1925. A break below 1925 could open the way towards 1890.
=====
Gold XAUUSD Weekly Level
R3 2152.54
R2 2111.42
R1 2041.04
Pivot 1999.92
S1 1929.55
S2 1888.42
S3 1818.05
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