Gold

The current trend downward trend 1530 targets and stop loss 1526 1542 if the price went to the highest point breakers 1542 the trend reversed to the upside targeting 1545 and then 1550

gold, the price goes down sharply yesterday. 1296.20 price to penetrate the area. This further strengthens the case if the daily MA has been trending down sharply, and is under the daily MA MA weekly trending down. there is no other option than sell. if you want to sell wait for the price bounces around MA daily. likely the price will go to 1280.10. but if it fails to be heading 1296.20

Today analysis
gold
Trend buy
Support level 1: 1232
Support level 2: 1226
Support level 3: 1218
Resistance level 1: 1246
Resistance level 2: 1254
Resistance level 3: 1260

Gold today prediction strategy
Strong in sell
Stop loss : 1248 and 1256
Take profit. : 1228 and 1222
Support level : 1218 and 1232
Resistance level : 1246 and 1256

Intraday bias remains bullish in the short term test area 1667 - 1670 but the overall outlook remains bearish technical pattern since the Double Top appears on the Daily chart, and the required penetration consistently above the 1716 area to stop the Daily bearish scenario and trigger upward correction test area 1726.

Gold futures for December delivery traded at USD1765.35 a troy ounce in U.S. trade falling 0.30%.

It earlier traded at a session high USD1772.45 a troy ounce. Gold was likely to find support at USD1758.85 and resistance at USD1781.55.
Gold fell on profit taking despite the U.S. UoM consumer sentiment rising unexpectedly last month, preliminary data showed on Friday.

In a report, the University of Michigan said that consumer sentiment rose to a seasonally adjusted 83.1, from 78.3 in the preceding month.

Analysts had expected UoM consumer sentiment to fall to 78.0 last month.
Meanwhile, U.S. producer price inflation rose more-than-expected last month, official data showed on Friday.

Technical analysis of the GOLD

Today Trend is : BULLISH

Today Resistance level is:

1> Resistance level is: 1239
2> Resistance level is: 1241
3> Resistance level is: 1244

Today supporting level is:

1> Supporting level is : 1235
2> Supporting level is : 1233
3> Supporting level is : 1231

Take profit is : 1243

Stop loss is : 1232

GOLD market technical analysis

- current price of the pair is 1237
- market have bearish trend and in sell position
- market resistance and support levels

Resistance levels

R1 1241
R2 1243
R3 1247

Pivot level 1237

Support levels

S1 1233
S2 1231
S3 1227

Safety-seeking capital flows amid deepening market turmoil have continued to drive gold higher in Europe, with the yellow metal setting another record high

Technical Analysis for GOLD

Market Trend is : BULLISH


Resistance Level are:-

1= Resistance Level is : 1239
2= Resistance Level is : 1243
3= Resistance Level is : 1247

Supporting Level are:-

1= Supporting Level is : 1235
2= Supporting Level is : 1333
3= Supporting Level is : 1231