Gold has been respecting the resistance zone. The sellers are geeting more interested at resistance level to pull the price down. The Buyers has yet not given completely. Buying Pressure can be observed in the commodity once it trades above the resistance, we can expect seller to sq off their position once the security close above the resistance.

Price is trading above the Fast and Slow EMA indicating positive trend. DI+ is trading above DI- indicating positive strength with ADX trading above DI- indicating strength in the move.

Advice : Enter Long if security closes above the resistance.

Near Resistance

May 06 2023