GOLD TODAY CONFIRM ANALYSIS (READ DESCRIPTION)
Updated
The Relative Strength Index (RSI) on the daily chart is flashing extremely oversold conditions and makes it prudent to wait for some near-term consolidation or a modest bounce before positioning for a further depreciating move. The lack of firm buying interest, meanwhile, validates the near-term negative outlook for the XAU/USD. Hence, some follow-through weakness below the $1,815 level, or a multi-month low set on Tuesday, towards challenging the $1,800 round figure, looks like a distinct possibility.
A convincing break below the latter will expose the next relevant support near the $1,770-1,760 region. On the flip side, any recovery attempt might confront stiff resistance and remain capped near the $1,830-1,832 horizontal zone. A sustained strength beyond, however, might trigger a short-covering rally and lift the yellow metal to the $1,850 hurdle en route to the $1,858-1,860 strong barrier
GOLD SELL : 1822
TP : 1810
TP : 1800
TP : 1790 TARGET
SL : 1934
A convincing break below the latter will expose the next relevant support near the $1,770-1,760 region. On the flip side, any recovery attempt might confront stiff resistance and remain capped near the $1,830-1,832 horizontal zone. A sustained strength beyond, however, might trigger a short-covering rally and lift the yellow metal to the $1,850 hurdle en route to the $1,858-1,860 strong barrier
GOLD SELL : 1822
TP : 1810
TP : 1800
TP : 1790 TARGET
SL : 1934
Comment
10 Pips RunningComment
15 Pips RunningComment
Confirm AnalysisComment
Follow UsComment
Running In Profit.Comment
Follow My ChartComment
Follow For More ChartsComment
Hold SellComment
30 Pips RunningComment
Confirm Chart..Comment
40 Pips Done>Comment
50 Pips Running Enjoy.Comment
Confirm TargetComment
Support US Need Some SupportComment
Confirm Chart FOllow ItComment
Hold In Sell For Big ProfitComment
Running Big ProfitComment
Follow Us For More Good ChartsComment
70 Pips Enjoy..Comment
Confirm Target.Comment
Target Is Near To CompleteDisclaimer
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