Gold has been under pressure over the past couple of weeks. And today it continued to trade under the psychological level of $ 1800, which is important for bullish traders.
There are two potential scenarios after a breakout in this level.
First is a true breakdown and a decline to $ 1675, while the second scenario is a false breakout and an increase to $1833.
If gold also breaks through $1833, price is likely to turn around and drop to $ 1675.
All this is according to the Price Action and Stop Hunting strategies.
Good luck and have a nice day!
