12/03/2018
TECHNICAL ANALYST
GOLD
OUTLOOK: TREND: - UP RESISTANCE: - 30450, 30550. SUPPORT: - 30250, 30150. STRATEGY: - SELL ON HGIH.
TECHNICAL OUTLOOK
Gold daily chart continues in "Falling wedge� pattern. The last few sessions seems consolidated inside the channel. The market is expected to continue in bearish trend along with a small correction over positive momentum to retest the channel’s resistance slope line once again. The downside rally could test all the way through $13151305(30080-29830) levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance level holding at $1330(30445) then it might turn to bullish. The upside rally could test $1335-1340(30580-30705) levels. Support holds at $1300(29705).
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