GOLD is performing well against the resistance of the global price channel and we are seeing strong bearish momentum.
The price breaks through the 1720 level with momentum and I expect a pullback to this level to test it, after which the fall may continue.
We have a global downtrend, as well as a number of negative world news are bad for the price.
I suppose that from the level of 1720, the fall might continue and the price has two liquidity zones ahead – 1698 and support 1681.
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