#Gold- New leg down?
As I explained in my weekend analysis, in my opinion, Gold is strongly bearish in the medium term and I expect continuation to the downside after the large weekly Bearish Engulfing .
As it was normal, after reaching 1780 support, Gold has started to correct to the upside and now is entering the sell zone.
Resistance is between 1805 and 1810 and in this zone, we should look for opportunities to sell.
Short-term traders can target 1780 followed by 1750 and a daily close above 1830 would negate this scenario.
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Mihai Iacob
Forex, Gold and Crypto trader
