Gold: Market Sees Negative Break Below Key Level

From dailyforex.com

Gold markets experienced a decline during Thursday's trading session, breaking below the crucial 50-Day Exponential Moving Average (EMA). This development suggests a bearish sentiment, raising the possibility of gold searching for support near the $1950 level. Notably, this area represents a gap in the futures market, which has yet to be filled, and its influence extends to both futures and spot markets. A further breakdown below the $1950 level would open the potential for gold to drop toward the $1900 level. The $1900 level is bolstered by the 200-Day EMA, making it a logical candidate to act as a support level. ... (full story)