Gold is in a bearish trend with the formation of lower lows and lower highs with another impulse towards the lower support level. The price for the shorts is at 2035. 

The descending trendline might be retested at the resistance level and form a confluence for another short setup.

The retracement level of 61.8% is also forming a confluence with the short.

EMA 50 is still bearish and along with other confluence, it can also be a party to the factor.

RSI needs to be neutralized at the 50 level in order to technically align.

Gold shorts incoming

Feb 12 2024