Gold declined below moving averages and below 1.0770 yesterday after failure to stabilize above it, which is a negative sign along with negativity on technical indicators.
However, we can’t be bearish, as trading continues above 1065.00-1062.0. We will be neutral and stability above 1077.00 and 1078.00 is essential to bring the bullishness back into focus.
Support: : 1070.00 – 1062.00 – 1050.00
Resistance:: 1078.00 – 1090.00 – 1101.00
Direction:Bullish, but we avoid trading now