ForecastCity

Don't miss the great sell opportunity in Gold

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
Trading suggestion:
. There is a possibility of temporary retracement to resistance support line (1280.90). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. The RSI is at 29.

Take Profits:
TP1= @ 1272.90
TP2= @ 1260.60
TP3= @ 1240.55

SL= @ 1285.25

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