Gold extends decline towards $1980

Gold ???? Daily Technical Report



As Gold breaks yesterday's low of $1991 and drops to test $1987 short term volatility favours bears and immediate resistance shifts to $2005 which keeps momentum under pressure.


If Dollar shows signs of exhaustion and retraces below 101.30 Gold may start momentum accumulation to restart some rebound towards $2005 which needs to be cleared for further upside towards $2010 and $2023


Consistent selling momentum and stability below $1995-$2005 will keep the bias downward for further drop to $1976 and $1963