From a technical perspective, the Relative Strength Index (RSI) on the daily chart is flashing oversold conditions and makes it prudent to wait for some near-term consolidation or a modest bounce before positioning for any further losses. That said, the overnight swing high, around the $1,880 region, is likely to act as an immediate strong barrier. A sustained strength beyond could prompt a short-covering rally and allow the Gold price to reclaim the $1,900 round-figure mark.
On the flip side, the $1,858-$1,857 region, or a multi-month low touched on Thursday, now seems to protect the immediate downside. Some follow-through selling will be seen as a fresh trigger for bearish traders and make the Gold price vulnerable to accelerate the slide towards the next relevant support near the $1,820 zone. The downward trajectory could get extended further towards the $1,800 mark, which should act as a key pivotal point for short-term traders.
Gold now sell 1875
Sell limit 1880
Target 1871
Target 1867
Target 1850
SL 1884
On the flip side, the $1,858-$1,857 region, or a multi-month low touched on Thursday, now seems to protect the immediate downside. Some follow-through selling will be seen as a fresh trigger for bearish traders and make the Gold price vulnerable to accelerate the slide towards the next relevant support near the $1,820 zone. The downward trajectory could get extended further towards the $1,800 mark, which should act as a key pivotal point for short-term traders.
Gold now sell 1875
Sell limit 1880
Target 1871
Target 1867
Target 1850
SL 1884
Komen:
Gold sell 10 pips running
Komen:
Gold sell 20 Pips running
Komen:
Target 1 hit 40 pips Done ✅
Komen:
Gold sell 50 pips running
Komen:
Gold sell 70 pips running
Komen:
Gold sell 90 pips running
Komen:
Gold sell 130 pips running
Komen:
Gold sell 140 pips running
Komen:
Check my signal
Komen:
Gold sell 150 pips running
Komen:
Check my signal