Gold- reversal or lack of liquidity?
Gold started the week weakly and in yesterday's Asian's session dropped to 1800 zone. The price quickly reversed and has spent most of the day above 1830 and, more importantly, above 1820 important support.
The question at this point is if this in fact is a reversal or just the lack of liquidity with US closed for bank holiday?
The overall structure remains bearish but if Gold manages to pass above 1840-1850 zone things become bullish and we can consider yesterday's spike a false break.
At this point, my approach is "wait and see".
The question at this point is if this in fact is a reversal or just the lack of liquidity with US closed for bank holiday?
The overall structure remains bearish but if Gold manages to pass above 1840-1850 zone things become bullish and we can consider yesterday's spike a false break.
At this point, my approach is "wait and see".
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