The metal inclined slightly during the Asian session where it touched the previous detected pivotal resistance of 1728.00. From this strong resistance, it started to show signs of trend exhaustion as follows:
Consecutive bearish candlestick patterns over four-hour studies.
Clear bearish sign on Stochastic.
At the same time, SMA 50 becomes closer; thus, we will remain neutral for the time being but a break above 1741.00 will be a very positive indication.
The trading range for today is among the key support at 1635.00 and key resistance now at 1785.00.
The general trend over the short term basis is to the upsidetargeting 1945.00 per ounce as far as areas of 1475.00 remain intact with weekly closing.
|Recommendation||Based on the charts and explanations above our opinion is, staying aside until an actionable technical setup presents itself to pinpoint the next big move.|