GOLD confirmed yesterday a session of consolidation forming a new inside day with now 1728,50 – 1666,00 the levels to follow in the coming hours. A break of the support confirmed by a daily closing will support a direct extension of the decline toward the 200 days line, now found at 1595,70!!
The indicators of the daily chart are still well negative but those of the s/t ones turned already above the line following the correction.
We expect resistance at 1700,60 before the s/t key level at 1710,80; only a move above this last resistance will postpone the decline causing a higher retracement with the 200 hours line at 1732,90 the possible attraction.
We are still looking for lower level but move closer the stop to 1711,50; if executed we sell again a move up toward the 200 hours line for a 1650 undershooting!!
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FUTURE TREND RESEARCH