Gold could drop some more

[fxstrategist]

The bullish trend is still in place for gold, but it has found some resistance around the 1358 level.

 

[fxstrategist]

Gold stalls around the 1330 level, but it may try to retrace some more to the downside.

 

[victoriajensen]

Gold stalls around the 1330 level, but it may try to retrace some more to the downside.

It has been consolidating sideways for a few days now and it seems completely undecided to me.

 

[fxstrategist]

Gold could find resistance at the 1358 level or the 1375 level. To the downside, the 1310 level may act as support.

 

[fxstrategist]

Gold consolidates around the 1333 level and it may head in any direction. To the upside, the 1358 level may act as resistance and to the downside, the 1312 level may act as support.

 

[victoriajensen]

For now Gold is still testing the support at $1,340. A breakout below that level could lead to a further drop to $1,330.

 

[fxstrategist]

Gold is in a consolidation that has formed a symmetrical triangle from where the price may break in any direction.