XAUUSD: Reducing wedge continues to work!
Open interest in gold futures markets fell for a row on Tuesday, this time by around 3.2k contracts, according to preliminary data from CME Group. Instead, volume kept its erratic performance and increased by about 42.3k contracts following the previous daily drop.
Gold is facing initial dispute around 1900
The falling wedge formed is due to a further decline in open interest, which should support the near-term recovery. So far, the 1900 area emerges as a good competition for the time being.
Gold is facing initial dispute around 1900
The falling wedge formed is due to a further decline in open interest, which should support the near-term recovery. So far, the 1900 area emerges as a good competition for the time being.
