GOLD confirmed a weak closing well below the key level at 1736,60 confirming therefore the double top formation and supporting a possible extension of the decline toward the support line, now at 1681,60!!
The indicators of the daily chart are now negative and also those of the s/t ones are below the line supporting further weakness. Only in the hourly chart the indicators are recovering from the oversold condition but we expect already good resistance at 1736!!
We suggest remaining short for now moving the stop to 1769,50. We buy a 1695 undershooting!!
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FUTURE TREND RESEARCH