Gold tests $1760 today with pullback rally still a possibility
Gold has dropped through $1760 today but a minor pullback still remains possible through $1820/25 zone. The yellow metal has been showing a bullish divergence on RSI and a counter trend rally might be under way soon. Having said that, we favor selling on rallies rather than buying on dips since prices stay in the sell zone of resistance trend line. A break above $1825 and $1850 would pop up an alternate scenario for a much deeper corrective rally.
Remain short against $1965, towards $1650 and further.
Remain short against $1965, towards $1650 and further.
Feragatname
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