GOLD is not a SELL YET!!

The downtrend is currently very strong on GOLD - USD. As long as the price remains below the resistance at $ 1,707.40, we could look to profit from the bearish rally. The first bearish target is located at 1643.28 USD. The bearish momentum would be revived by a breakout of this support. The sellers would then aim for the next support located at 1,545.47 USD. Its crossing would then allow sellers to target USD 1,471.86. Be careful, given the strong bearish rally underway, excess could lead to a rebound in the short term. If this is the case, remember that trading against the trend may be more risky. It would seem more relevant to wait for a signal to resume the trend.

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