GOLD Technical Chart is Bearish

GOLD Technical Chart is Bearish

GOLD Technical Analysis

  • Gold sells on rallies
  • The price needs to break 1750
  • The range still persists
  • Bearish pressure is seen on a Daily TF


  1. Breakout below the flat bottom
  2. Retest if the breakout (Breakout-Retest)
  3. The Descending trend line
  4. New breakout

The price is currently bearish. We should see a momentum down and the bearish price action.  The market needs a strong impulse to break below 1748 and we will see more bears. The targets are 1720 and 1685. 1720 is very strong btw. Follow the price action as described in the chart. W L4 1739 is also support so if you trade the bearish sell off watch for all those support levels and protect your trades and profits. No bulls until 1770 breaks higher.