Hello everyone:
Yesterday and today, gold had a rather strange bounce, which I believe was manipulation by institutions. After these repeated tremors, gold is likely to witness a new round of decline.
Today’s sharp rise in gold price was influenced by ADP news. However, market news can only affect gold’s rhythm in the short term. Until gold stabilizes above $4,200, the downtrend remains unchanged. I think the current rally creates a good opportunity for the next drop.
During the American session we will focus on the resistance area 4095-4115. I think there are good opportunities to sell gold in this area.
