Gold price has fallen below $1,900 and puts the bullish trend in danger. Was the break above $1,900 and false break out and a trap for bulls? Gold price has broken short-term support levels and is under pressure. Bears are in control of the short-term trend.
Blue lines - resistance
Green line - trend line support (broken)
Gold price is trading at $1,860 and is about to test the horizontal support of $1,850. We said in previous posts that we were bullish as long as Gold price was above $1,900. Now that price is below it we are bearish. The double top rejection at $1,950 if it is combined with a break below $1,850, will open the way for another move towards $1,750 and even lower. All eyes are on $1,850 now.