Red line -support trend line (broken)
Gold price has provided several signs of weakness since yesterday. Price failed to recapture $1,855 and instead price broke below $1,840 support level and the red upward sloping support trend line. Bears are taking control of the short-term trend. Price has made new lower lows and lower highs. Gold is expected to move lower towards $1,820-25 over the next few sessions. Resistance is now found at $1,860 and as long as price is below this level, bears will have the upper hand.
