Gold is declining gradually as RSI 14 is currently touching the value of 30.00. It prevents it from showing panic sell-off actions but since trading is stable below the previous broken trend line, the bearishness will be in favor over intraday basis. A breakout below 1360.00 will accelerate this awaited bearish wave.
The trading range for today is among the key support at 1320.00 and key resistance now at 1413.00.
The general trend over the short term basis is to the downside, targeting $ 1208.00 per ounce as far as areas of 1485.00 remain intact.
|Recommendation||Based on the charts and explanations above our opinion is, selling gold around 1372.00 targeting 1420. 00 and stop loss with a four hour closing above 1395.00.00 might be appropriate.|