Gold- Down continuation to support

١٨ أغسطس ٢٠٢٢

In my previous Gold analysis, I said that the price could drop following the break under rising wedge support. Indeed, XauUsd has dropped breaking also under 1785 horizontal support and at the time of writing is trading at 1762.
My bearish outlook remains unchanged and rallies towards 1785 now resistance should be sold.
My target remains the 1740 zone.