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Gold Is Offered

GOLD TECHS

The yellow metal is edging lower and recent price patterns suggest further weakness is likely. Key support levels to watch are:

  • $1902.9, Aug 26 low and a key intraday bear trigger.
  • $1863.2, Aug 12 low and the trend reversal trigger.
  • Candle patterns on Aug 11, a bearish standard line and on Aug 19, a bearish engulfing line suggests further weakness is likely near-term.
  • Resistance levels to watch are at:
    • $1992.5, Sep 1 high and
    • $2015.7, the Aug 18 high.

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