The metal dropped during yesterday's trading session waiting to break
1277.00 levels to confirm the bearish possibility, but the price failed
to do so. Despite that this possibility became valid after the positive
divergence failed on MACD, but stabilizing below 1277.00 supports
negativity because it takes the metal to trade below Linear Regression
Indicators.
Support: 1280.00, 1277.90, 1272.00, 1266.55, 1262.00
Resistance: 1285.00, 1293.00, 1296.25, 1300.00, 1305.00
Recommendation Based on the above, sell gold at 1276.00, targeting 1272.00, 1262.00, then 1250.80, and stop-loss above 1296.25.
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