Gold has buffed up towards the resistance level and the market has continued moving up. At the level of 1923, we see a solid resistance from where the market can stall down. The trend is still bearish with the formation of lower lows and lower highs.

The ascending trendline is formed and the market needs to break the trendline in order for the market to continue its bearish momentum.

The retracement level of 75% is in confluence with the resistance level and the market continued dripping down. Market already factored in for the sells.

EMA 50 is bearish and the market may retest and there it would be the profit target.

RSI is at 33. It needs to test the 50 level in order to align with the technical parameters of the resistance level.

Gold shorts from 1923

Aug 23 2023