Gold: ⬇️ Sell
- Gold reversed from resistance level 3445.00
- Likely to fall to support level 3300.00
Gold recently reversed with the Bearish Engulfing from the resistance level 3445.00, which is the lower border of the resistance area which has been reversing the price from April.
The resistance level 3445.00 was further strengthened by the upper daily Bollinger Band.
Given the strength of the resistance level at 3445.00 and the bearish divergence on the daily Stochastic indicator, Gold can be expected to fall to the next support level at 3300.00 (the low of the previous minor correction ii).
