GOLD FUTURES (MCX)
continued to decline from the 59900 lvl and has broken the mtf support of 58135
with a gap down
price then retested the support, (as the support breaks it will act as resistance now)
similarly we seen a rejection and price coming back to day low
further if the day low is taken out, we can project the price heading towards its higher time...
Gold is showing final leg towards south zone has been started to unfold wave 5, which can probably go near $ 1660. On the way up side $ 1792 is an invalidation level.
As per RK's mass psychological cloud also, it is suggesting bearish. once it breaks below $ 1754 then more fireworks can be seen on chart.
RK's mass psychological cloud sell activated