Strong resistance level currently around 105. ‘A lower high is formed. What’s next ?
- Lower low – The magic 100 would then be THE support test level
- Channel formation – probably. Markets had 2 bad weeks behind them. Worsening would also mean Gold could become a save haven again.
- up again for higher highs – don’t think so. The top of 119 was reached trough a too steep rise, not backed by enough fundamentals. We first have to “digest” that.