Due to traders’ interest in Gold, the price is getting empowered.
The support rests at 1853.21 with resistance at 1883.48 which both lines are below the weekly pivot point at 1961.37. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing sell signal. The price is below the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 1884.
