Gold trades below SMA50 despite stabilizing above SMA20 and above 1077.00.
SMA50 stopped the bullish actions and thus, ADX showed negative sign although RSI remains positive.
We see inappropriate risk versus reward ratio along with strength of SMA50. Thus, we will be neutral now.
Support: :1077.00 – 1070.00 – 1062.00
Resistance: 1084.00 – 1090.00 – 1101.00
Direction: Sideways