- Gold reversed from key resistance level 1950.00
- Likely to fall to support level 1900.00
Gold recently reversed down from the key resistance level 1950.00 (top of wave I from the start of this month) intersecting with the upper daily Bollinger Band.
The resistance level 1950.00 was further strengthened by the 61.8% Fibonacci correction of the previous downward impulse (C) from July.
Gold can be expected to fall further toward the next support level 1900.00 (low of the previous minor correction ii).
 intersecting with the upper daily Bollinger Band.){kind=link}