Spot Gold Hourly Chart : Bearish Outlook for short term

Spot Gold Current Price at $1,954. As expected Spot Gold faced stiff resistance at the level of $1,967 and retracted back to $1,947 levels. MACD Negative crossover already seen at $1,964.VWAP for the session and ichimoku also supports all the bearish signal along with strong down trend line. Down ward trend to continue and first resistance seen at $1,944 ( earlier strong support) if taken out we may see down level of $1,935 and further slide towards $1,925.We should keep stop at $1,964/- ( support from ichimoku conversion line/base line and VWAP)

Trade closed: stop reached

Comment:

DXY " $" index moved down significantly moved GOLD prices up.