This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
The precious metal remains in a bearish move after earlier this week, price failed to hold above the 1900 level.
A brief retracement saw prices testing the 1911.50 level. But with no further room to go, gold prices reversed direction.
At the time of writing, the precious metal is approaching a two-month low. If the bearish trend continues, we could see gold touching down to the 1817.79 level.
This forms a major support level that is quite likely to hold. However, expect to see possible retracements as gold prices make its way to the lower support area.
To keep reading this article, please navigate to: Orbex Forex Trading Blog.