Gold – technical view

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.

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