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
Commentaire:
10 Pips Running
Commentaire:
15 Pips Running
Commentaire:
Confirm Analysis
Commentaire:
Follow Us
Commentaire:
Running In Profit.
Commentaire:
Follow My Chart
Commentaire:
Follow For More Charts
Commentaire:
Hold Sell
Commentaire:
30 Pips Running
Commentaire:
Confirm Chart..
Commentaire:
40 Pips Done>
Commentaire:
50 Pips Running Enjoy.
Commentaire:
Confirm Target
Commentaire:
Support US Need Some Support
Commentaire:
Confirm Chart FOllow It
Commentaire:
Hold In Sell For Big Profit
Commentaire:
Running Big Profit
Commentaire:
Follow Us For More Good Charts
Commentaire:
70 Pips Enjoy..
Commentaire:
Confirm Target.
Commentaire:
Target Is Near To Complete