Gold has been in a bearish trend since few days and the market has dropped drastically. The market is now flooring at the 1933 level which migh take a rebounce at the resistance level at 1863 from where we will be taking a bearish impulse. The trend is bearish and the market is lower lows and lower highs. 

The descending trendline might be rejected or retested at the resistance level. 

EMA 50 is bearish and the market may retest at the resistance level. But, that is not a given as the market is very bearish and may not be able to retest it until the weekly support is tapped. 

RSI is at 14. This is beyond the over sold region and the market needs to to rectify this by neutralizing itself at the 50 level of oscillator.

Gold sells from 1863

Oct 02 2023

Stop Loss -1.10%

Holding time 2d11hr

1861.86

Entry price

1882.42

Stop loss price