FX.co ★ Gold Bearish Below 1795.00

Technical Outlook and Chart Setups:

Gold is down at least $25 from where the sell was issued on Friday. The yellow metal is still favoured to print lower lows in the upcoming sessions. Intraday rallies should be well capped below Friday highs now. A clear break of 1795.00 level shall shift focus on higher side. Till then, shorts are favoured following each intraday rally. Resistance is well placed at 1787.00 while intermediary support shall be provided by 1730.00 level. It is recommended to stay short for now.

Trading Recommendations:

Stay short from Friday, stop at 1795.00, target 172.000 and 1700.00

Good Luck!