Gold retreats from $2698. Will drop to $2640?
Gold is seen facing resistance and selling pressure after witnessing retail traders preferred to book profits as price action lacked strength to surpass $2700
As long as the metal trades below immediate resistance zone $2670-$2675, downward shift in momentum is likely to extend towards $2660-$2650-$2640
On the flip side, strong break above $2675 will push the metal further upside towards $2690-$2700
As long as the metal trades below immediate resistance zone $2670-$2675, downward shift in momentum is likely to extend towards $2660-$2650-$2640
On the flip side, strong break above $2675 will push the metal further upside towards $2690-$2700
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.