In yesterday's session, precious metal Gold traded narrowly in the 1940-1949 range, moving sideways all day without any change compared to the previous session.
- In today's session, it is highly likely that precious metal Gold will continue to move in the above range.
Important update regarding the Gold (#xauusd)
Gold has recently experienced a bearish reversal pattern known as a triple top formation, which has resulted in a drop below the critical support level at 1961.
U.S. output growth hit a 13-month high in May, but like the euro zone, manufacturing remains an area of โโconcern, slipping into contraction territory
Last week's close tested 103.19 at the Ichimoku cloud boundary, and technically the short side continues to march below the cloud towards 102.99. If the cloud is broken, further decline to the next support level at 102.75 becomes more likely in the short term #Dollar