FX.co ★ Gold sellers in charge

Gold drops like a rock in the short term after failing to jump above the former highs. It is traded at the 1,794.50 level and could approach and reach the 1,784.57 former low. Technically, the current downside movement is natural after dropping below the uptrend line.

Trading Conclusion

A larger downside movement could be activated, confirmed by a drop and stabilization below 1,784.