GOLD Daily Chart :
GOLD Bearish Reversal is Active till it Holds 1755 Level on Closing Basis..
Near-term downside risk which now offers a sharp decline back into the old trend-line and 200-day average, both holding around $1650/54.
If the Trendline and 200 SMA is Breached then Further Weakness Can be Seen and a Weekly Close Below 1540-50 Level Can Trigger a More Sharp Decline in the GOLD Prices and it will Carry upto 1450..1300 levels. The Confirmation is Still away for Such a Big Downside, but still it is an Important Analysis to Protect your Capital and Save Unnecessary Speculative Long Positions.
Also For a Sustained upmove - It will be Only Above the Levels of 1800-1810 on Closing Basis..
So the Conclusion is SELL GOLD NEAR 1725-1730 ZONE / SL 1760-65 / TP 1680...1650...1620
Disclaimer :- These are Views published for information purpose only and are subject to change without notice, trading with this View without the knowledge of trading and money management can cause a damage to your portfolio. You should obtain advice from a qualified expert before making any investment decision.