Gold’s movements have showed some kind of negative pressures, which stopped the bullishness yesterday despite trading above 1219.00 where 50% Fibonacci exists, but ADX shows decrease in bulls’ power.
RSI shows negative attempt after approaching 70.00 levels and that makes us neutral today, as we can’t be bullish due to the negativity on ADX, while 1219.00 is a good support.
Positivity remains on moving averages, hence, we will update the report when we see more reliable signs.
Support: 1225.00 – 1219.00 – 1210.00
Resistance: 1236.00 – 1242.00 – 1250.00
Direction: Neutral
