-
Gold reverses sharply after making new, mid-term high
In today’s analysis, we will take a look at Gold, which yesterday managed to set new mid-term highs and for some time climbed above 1830 USD/oz, which was the highest since the end of June. Although the fact of making those highs is positive, quick reversal and abandoning them can be quite worrying. Can that be a start of a larger bearish reversal? As for now, we do not have enough evidence to claim a bearish reversal. We have some hints though. Gold failed to hold above the 1823 USD/oz support (yellow), which was crucial in December. The reversal from yesterday creates a long head on a daily and H4 candle, which ... (full story)