There are many people who are not really brave enough to short gold at the moment.
The only thing that can push the price down while fundamentals stay are short-selling and closing longs imo. Most longs have already been closed I guess, and I don't think there are enough sellers to push it all the way down to 1600.
Anyway, my H1 chart shows that the price is, kind of, taking a short break, actually the indicators are just ready to flip to bullish side.
Waiting for TDI to flip to bull, and stoch is struggling very hard, think it's going to flip upwards soon. Tho any 20$ move up is going to move it all the way to at least 60 or 70 as the price was steady over the course of few candles.
The only thing that can push the price down while fundamentals stay are short-selling and closing longs imo. Most longs have already been closed I guess, and I don't think there are enough sellers to push it all the way down to 1600.
Anyway, my H1 chart shows that the price is, kind of, taking a short break, actually the indicators are just ready to flip to bullish side.
Waiting for TDI to flip to bull, and stoch is struggling very hard, think it's going to flip upwards soon. Tho any 20$ move up is going to move it all the way to at least 60 or 70 as the price was steady over the course of few candles.