Chart of the Week: Gold bears are sinking in their teeth by Ross_Burland gold commodity bears
is a sideways scenario until the support is broken at $1,915. For the open, some mitigation of Friday's bearish impulse could be in order which leaves $1,950 on the cards on the upside. Meanwhile, the 4-hour perspective is less bullish and a test of prior lows could well be all we will see from the bulls before the bears are bated in for a discount prior to a run towards $1,920.
''While it is likely that the yellow metal will correct during the early part of the tightening cycle, there is decent support near $1,923/oz as there is a significant investor contingent who believe the US central bank will remain behind the curve.'' Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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