FX.co ★ Gold Declint Expected To Accelerate Below 1750.00 Levels

Technical Outlook and Chart Setups:

Nothing changed structurally since yesterday. Prices are stalling right ahead of the major resistance level of 1800.00. Shorter time frames are hinting at reversal/retracement underway. A break below 1750 and 1721.00 levels shall reinforce and accelerate towards 1650/60. But the backside of the downtrend line is more interesting for us, which would provide srtong support for the next bull leg. We remain optimistic for the bears to take control for a while.

Trading Recommendations:

Flat for now. A short entry is awaited.

Good Luck!