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Gold looking ready to retest $1700.oz in the near term

By CIFER | Updated Mar 3rd, 09.56 GMT

Screenshot 2021-03-03 at 09.56.56.png

Following a retracement into $1740, Gold is begging to weaken on the lower time frames and as such momentum is expected to remain with the bears for the meantime. We can expect a further push down towards $1707 in the first instance, then onto $1700, on the other hand we would really need to see a break up above $1740 again for this to look like a deeper pullback on the higher timeframe.


Real time breakdown in members area to what we expect.

Update: 3rd mar | 15.50 GMT
Screenshot 2021-03-03 at 16.00.15.png


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Target 1 hit at $1708 dipping into a low $1701.5 before rebounding sharply, zero drawdown with this position, +290pips. 

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