#GOLD 2 hour #ChartAnalysis

Looking at gold on the 2 hour chart. Using the 253 day moving average we see it is acting as bearish resistance as every time the price meets the moving average gold ends up moving downward. We just breached below 1700 and are at the bottom of a large horizontal channel so if we end up breaking below 1650 we could be in for some more bearish pressure on gold.