Gold has broken lower and cleared support at $1761.1, Jun 18 low. The break lower confirms a resumption of the downtrend that started Jun 1 and note the move lower has confirmed the bear flag that developed during the most recent consolidation phase. This opens $1733.5, a Fibonacci retracement ahead of $1723.8, Apr 13 low. On the upside, initial resistance has been defined at $1795.00, Jun 23 high.

Fixed Income Technical Analysis Foreign Exchange Technical Analysis EM Bullet Fixed Income News Homepage markets-real-time Commodities Bullet Markets Emerging Markets News Foreign Exchange News

Taso Anastasiou

Fixed Income Technical Analysis Foreign Exchange Technical Analysis EM Bullet Fixed Income News Homepage markets-real-time Commodities Bullet Markets Emerging Markets News Foreign Exchange News

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Bear Flag Formation Confirmed