The strength in the USD market is putting Gold under pressure.
The support rests at 1190.04 with resistance at 1201.70 which both lines are below the weekly pivot point at 1204.43. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and above the EMA of 100. The RSI is falling towards the oversold area, the Stochastic is showing downward momentum and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a downward trend.
Short positions are recommended towards 1180.
