Gold price despite making new higher highs yesterday, price turned lower and closed at lower lows. Gold price remains under pressure. Gold is vulnerable to more downside now that price has broken below $1,820. Gold has made three attempts over the last few weeks to break above $1,860-70. All attempts failed and price has now moved to form a pattern of lower lows. Next major support is at $1,786. As long as price is below $1,850-60 I believe we will see Gold break that level. Today Gold bounced towards $1,831 but bears remain stronger and in control of the short-term trend. Gold is making new daily lows.
