Gold slips lower and it is somehow expected to approach and reach the $1,900 psychological level and the uptrend line. The price has printed a down channel, a drop below the near-term downside obstacles will recommend selling as the rate fails to stay within the uptrend.
It's premature to talk about a larger drop as the gold price is traded above the uptrend line. Passing above the minor red downtrend line, Gold announces further growth in the coming weeks.
- GOLD Trading Tips
Sell below the $1,880 level, the first downside target stands around $1,800 at the downside line of the minor down channel.
Buy again from above the $2,000 level, Gold's run beyond this level suggests a larger upside movement, $2,100 remains an attractive target if this scenario takes shape.
