Gold Bulls suffer a minor setback
Gold buyers have failed again at the 1745 area but the drop has been small so far. It is possible that Gold bulls are waiting to enter at lower levels and push the price beyond 1760.
But, repeated failure to break the 1745 zone is not a good sign for the buyers.
A correction towards 1700 and even 1675 can not be ruled out.
So far, this price action appears to be consolidation and profit taking.
As per my analysis, this is not a trend reversal.
But, repeated failure to break the 1745 zone is not a good sign for the buyers.
A correction towards 1700 and even 1675 can not be ruled out.
So far, this price action appears to be consolidation and profit taking.
As per my analysis, this is not a trend reversal.
