Gold appears to have stagnated after dropping to lower levels of $1800. As mentioned before in our previous article, the yellow metal had completed its series of waves and was looking for a correction. Speculators and traders alike are now asking if bears have control over the metal.
- Should the instrument trade below $1800, the trend may turn into a bearish one.
- However, should the price break above $1830, we may see bulls start to take over to bring continuation to the previously bullish trend.