Gold from the opening session continues to decline and at the moment is testing the upper boundary of the descending channel. Most likely the price is aiming at 1935 for a retest.
I expect a pullback from the support level, since the accumulated liquidity may not allow breaking the support at the first time.
The downtrend resumes and the signal from MA-200 and MA-50 (their crossing) does not bring the result.
The fundamental background for gold is negative, strengthening of the dollar is not good for gold.
Most likely, a pullback might occur from 1935 to retest the resistance, but in the midterm a fall is expected.
MA-200 and MA-50 are currently a strong resistance.
Strong support: 1935, 1914.
Strong resistance: 1952
I expect a bounce after touching the support with further resumption of falling, breaking through 1935 and going down to 1914
I expect a pullback from the support level, since the accumulated liquidity may not allow breaking the support at the first time.
The downtrend resumes and the signal from MA-200 and MA-50 (their crossing) does not bring the result.
The fundamental background for gold is negative, strengthening of the dollar is not good for gold.
Most likely, a pullback might occur from 1935 to retest the resistance, but in the midterm a fall is expected.
MA-200 and MA-50 are currently a strong resistance.
Strong support: 1935, 1914.
Strong resistance: 1952
I expect a bounce after touching the support with further resumption of falling, breaking through 1935 and going down to 1914
