Gold Supported At 1800 But Bears Are Still In Charge

Gold remains bearish despite support at 1800. Sellers are waiting at the POC zone.

A retracement towards the 78.6-88.6 zone is good for sellers. We can also see an order block in addition to a strong retracement zone.

If we see a retracement towards 1825-30 watch for a renewed wave of selling towards 1816, 1812 and 1800. A break below 1800 and 1791 is next. As long as 1845 is safe, bears should not have any problems.

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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

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