(CercleFinance.com) – Gold was the victim of a big attack at 4:30 p.m. on September 15 with the apparently deliberate sinking – without any obvious catalyst – of the ‘$1,692’ threshold and until it tested $1,772 20 minutes more late.
The Ounce of Gold (in $) is in danger under 1.675$/Oz: the major low of July 21, 2022 and March 8 or 30, 2021.
The next support is located at $1,560, a level which corresponds to a resistance dating from August 2019 and a support which dates back to December 2011, revised in May 2012.
The main long-term ascending support is gravitating towards $1,430 and will gradually rise towards $1,470 by the end of 2022.
Beware of the ‘bear’ trap below $1,680, the temptation to trigger ‘stops’ (bearish among small holders) in order to reduce ‘shorts’ (large players working this asset downwards in concert with the FED).
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