Following forecast, gold moved down after consolidation. Next target area – $1720-1650. Current monthly candle formation – Bearish Engulfing. If gold closes below $1768 tomorrow, the odds of further correction would greatly increase.
There is a small chance of a bullish reversal. If gold makes a solid +1-1.5% move tomorrow, it could make a bottom.
I plan to share my monthly analysis tomorrow.
If you want to receive regular updates on this and other topics, follow the blog on Twitter @InvestingAngles or by email subscription. Please share your Likes and Retweets if you find the content beneficial.