Gold price currently is in bearish bias. The price is testing the support at 1204.01, which if it breaks then might amplify the bearish pressure and extend the bearish move to 1197.79-1190.72 area. As backup plan, you might want to look for sell signal confirmation if a pull-back move occurs to the resistance area at 1214.32-1220.63.
Gold price currently is in bearish bias. The price is testing the support at 1204.01, which if it breaks then might amplify the bearish pressure and extend the bearish move to 1197.79-1190.72 area.
As backup plan, you might want to look for sell signal confirmation if a pull-back move occurs to the resistance area at 1214.32-1220.63; with target at 1210.41-1204.10. However, be careful if the resistance at 1220.63 breaks, because it will turn the intraday bias into bullish and potentially will push gold price up to 1224.54-1230.85.