Gold price defended the rising trendline support at $1,978 on Monday. But sellers have flexed their muscles, teasing an ascending triangle breakdown on the daily chart early Tuesday.
If Gold price manages to yield a daily closing below the rising trendline support, now at $1,981, a downside break from the ascending triangle will be confirmed.
Immediate cushion is seen at a November 1 low of $1,970. A failure to resist above the latter will target a bullish 21-day Simple Moving Average (SMA) at $1,966.
Gold buy now 1973
Target 1977
Target 1981
Target 1991
SL 1963
If Gold price manages to yield a daily closing below the rising trendline support, now at $1,981, a downside break from the ascending triangle will be confirmed.
Immediate cushion is seen at a November 1 low of $1,970. A failure to resist above the latter will target a bullish 21-day Simple Moving Average (SMA) at $1,966.
Gold buy now 1973
Target 1977
Target 1981
Target 1991
SL 1963