- Gold cannot regain the brilliance of days ago and threatens to extend correction.
- Return and confirmation above $ 1800 could give it bullish strength again.
The oro It is falling marginally on Monday, but the most significant thing so far this day is that it could not sustain above $ 1800. After reaching $ 1804 in hours of the Asian session, it reversed the trend and is trading at $ 1797, the low of the day, with a bearish bias.
The precious metal in this way remains under some negative pressure in the short term, tAfter hitting the $ 1,815 zone on Friday. Said day in the American session began a reversal process that extended to $ 1795, where the next support is.
EIn the event that gold manages to return and settle above $ 1805, it could gain momentum again to go to $ 1,810 first and then to test the $ 1,815 resistance. This level of yielding could pave the way for an extension to $ 1830/35, where the next major resistance lies.
The weakness of gold occurs in the face of a general rise in the dollar in the market, although at a modest rate. Treasury yields are in neutral ground for Monday, after rebounding. With no economic data ahead on Monday, the only event to watch out for is debt placement in the US.
Technical levels
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