From a short-term technical perspective, it was critical for gold to close the daily candlestick above the November 30 low of $1765, in order to offer some reprieve to the bulls
Although, it may not negate the bearish bias as long as the price holds below the downward-sloping 21-daily moving average at $1825.
Ahead of that level, the buyers need to find acceptance above the $1790 level, above which the January low of $1803 could be tested.
Although, it may not negate the bearish bias as long as the price holds below the downward-sloping 21-daily moving average at $1825.
Ahead of that level, the buyers need to find acceptance above the $1790 level, above which the January low of $1803 could be tested.