Sasha Singh
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Gold : Long Term Bearish Outlook

Long term trend of Gold seems bearish. On the weekly chart of Gold, we can see a descending triangle which shows that the pair should trade within the two contracting triangle until it reaches the apex. 


Possible resistance and support levels the pair might face are shown on the above chart. The pair should continue to decline and find the support at 1269.71. The pair might go up from this level but the outlook remains bearish. but this downfall will take time and we could see gold prices back to the previous record low level at the end of this year.