Gold Slams into a Major Resistance Forecast Gold Trading
The size of the candlestick is rather impressive, but we have seen these impulsive moves before. After all, we are in a major downturn, and I think that continues to be something that people need to pay close attention to.
Furthermore, you need to pay close attention to the interest rate situation in America, because it continues to climb, which will also work against gold given enough time.The support underneath still holds, if we were to break down below what looks like a triple bottom, we could send this market down to the $1600 level, perhaps even down to the $1500 level.
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