Gold still is bearish until it breaks the resistance level priced at 2045. It has painted a bearish sign earlier and I will continue to sell the pair till it reaches the next support level. Gold has formed lower lows and lower highs and is in a bearish trend right now. We are looking at the resistance level at 2025 level region which is on the H1 and the market has the potential to continue its dive down.

The ascending trendline has been formed and once the market breaks down the trendline, it can continue scaling down.

The retracement level is in confluence with the resistance level. The level of 61.8%.

EMA 50 is bullish right now. If the pressure sustains, the breakout of the EMA 50 will consider the fall down.

RSI is at 52. It needs to dwell towards the over bought region to form a bearish divergence.

Gold shorts from 2025

Dec 18 2023