Gold hit 1875 but could not grow further. Now it’s falling down and there might be stronger downward pressure on the way.
The support rests at 1826.40 with resistance at 1846.24 which both lines are above the weekly pivot point at 1819.97. The EMA of 10 is moving with bearish bias in the ascendant channel and it is below EMA of 200 and above the EMA of 100. The Stochastic is moving in low ranges, the RSI is falling towards oversold area and the MACD indicator is in negative territory. The ADX is showing sell signal.
Short positions are recommended towards 1817.
