Gold still is bearish until it breaks the resistance level priced at 2068. 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 2068 level region which is on the H1 and the market has the potential to continue its dive down.

The ascending trendline is forming for the breakout sells. It will also require a validation for the shorts.

There is no retracement level on this pair.

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

Until now, we can book profits at the retest of the EMA 50.

RSI is at 47. It needs to retest the 50 level of neutralization to align with the technical factors.

Still bearish on gold

Jan 02 2024