In our previous article regarding the precious metal, it was said should the instrument trade below $1800, the trend may turn into a bearish one. Recently, the yellow metal took a dive of around 2.28%, closing at a price of $1,763.08. The price may attempt to make a return back to $1,800 levels.
- Extreme caution should be taken when trading the metal.
- Confirmation of a bearish trend may be seen if the price gets rejected at the resistance level of $1,800.
- Should the price break above $1,800, bulls may take back control of the market.