Commodities Analysis and Opinion
Chart of the Day: Gold Turns Lower
2022.12.16 04:57
Following the Fed, initially stalled and then turned lower from the ascending wedge’s T/L resistance and is about to break down from here.
Today we closed the day below the wedge and the 200DMA, which points to a reversal and pullback to the breakout area at $1730. Keep looking lower for now as long as we keep trading below $1805.
