Mihai_Iacob

Gold- Bears remain in control

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
For almost three weeks now, gold has been trading within a range between 2325 and 2355, with spikes in these zones being bought or sold.
Yesterday, at the New York close, the price broke below horizontal support but reversed back above it during overnight trading.
Although both dips below support proved to be false breaks, the overall structure remains bearish.

My outlook remains the same: sell rallies, and only a break above 2365 would halt this correction of the long-term bull trend.
In conclusion, in the short to medium term, I remain bearish.

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