Gold prices remain pressured despite the latest corrective
Even if the yellow metal manages to cross $1,823, a confluence of 21-day SMA and a six-week-old resistance line, near $1,838-40 will challenge the quote’s further advances. Also acting as an upside barrier is a falling trend line from January 29, currently around $1,846.
Alternatively, a downside break of the immediate support line of $1,818 may eye for January’s low of $1,802.80 before directing gold sellers toward the monthly trough surrounding $1,785.
Alternatively, a downside break of the immediate support line of $1,818 may eye for January’s low of $1,802.80 before directing gold sellers toward the monthly trough surrounding $1,785.
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