Gold plunged, the yellow metal has lost its glitter falling aggressively to break the long-term support at 1525.00 level, and that resulted in a panic, sending the metal to levels near 1425.00, where price is currently testing the 200-weeks SMA. The technical structure has turned extremely bearish, as the long term bullish trend is starting to be damaged, and accordingly, rallies should be treated as new opportunities to short.
** Overall trend ( More than one year)
** Intermediate ( More than three months)
** Short term ( Less than three months)
** Chart is based on GMT+2 timing
Notes:
*if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.