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Gold Futures: Further downside appears limited. – Crypto News
Open interest in gold futures markets reversed the recent uptrend and shrank by around 3.5K contracts on Tuesday according to preliminary readings from CME Group. Volume followed suit and dropped for the second consecutive session, now by nearly 2K contracts.
Gold: Immediately to the upside comes $1930
Tuesday’s drop in golden prices was amid shrinking open interest and volume, which is indicative that a deeper pullback appears out of favor in the very near term. That said, a resumption of the upside bias could see the recent top around $1930 per ounce troy revisited.
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