Gold loses its shine for days, what next?

zlato 04.11.

Sharp decline on gold started from 1255 didn’t stop and gold didn’t manage to rebound at all, but for now hold the defense line at 1160. Weak JPY and strong USD are pushing gold continuously down at it seems that gold could try to test that 1160 support again!? Could it brake and continue to fall furder toward 1130 where I see the next minor support or it could cover at least 23.6 loss to 1180, previously strong weekly support!?

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6 comments

  • Odlično.

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  • Brake and new low, again good point. very weak retrace.

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  • Yap, 1174 is resistance from yesterday! 😉

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  • I think 1160 could hold for now and gold could rebound to 1180?

    Like

    • It looks like solid support for now.

      Like

      • 1174. 🙂

        Liked by 1 person

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