GOLD - Severe Technical Damages on Daily Chart
After touching 1680 in Asia morning session, gold has had rebounced to 1750. This 1750-1760 area used to be support, now turnes resistance which proves to be a pivot area. A breakdown under 2018-2019 uptrend line is in progress.
The daily chart shows severe technical damages with combination of death cross, trendline breakdown, and negative MACD.
Unless gold is able to recover above this pivot area or the uptrend line, gold might again head to 1660-1680 support area.
The daily chart shows severe technical damages with combination of death cross, trendline breakdown, and negative MACD.
Unless gold is able to recover above this pivot area or the uptrend line, gold might again head to 1660-1680 support area.
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