Mihai_Iacob

Gold- Drop to 1760 next?

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
As I said in my last week's analysis, in my opinion, Gold topped, and with the recent break under the rising wedge's support, we also have confirmation for this.
Friday, XauUsd came to test this break, and at the time of writing the price is exactly in the old's support zone.
Considering the recent bull's incapacity to hold the price above 1800 I expect a drop to at least the first support at 1760.
A daily close above 1810 would negate this bearish scenario.



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