Gold Price Analysis: Bears engaging below firm resistance, targetting $1,750
Between the 61.8% Fibo / 50% mean reversion and the confluence of old support has proven to be a firm resistance.
Gold is now firmly back into the hands of the bears targeting $1,750.As per the prior analysis, Gold Price Analysis: Bulls setting up for upside extension to -61.8% Fibo/$1,817/20, the price indeed rallied as according to the analysis, falling short of the target by $1.00 from which conservative bulls cashed in at.Prior analysis, 1-hourA conservative target,comes as the -61.8% Fibonacci retracement of the current correction's range at $1,817 for a 1:2 R/R.Live marketMeanwhile, the price has melted to the downside since reaching the $1,816.04 highs.For those bulls who waited for $1,817 or $1,820, they would have had to accept a breakeven scenario at wors...