Gold weakness in the near term

29 April 2021

Gold has retreated after testing its resistance near $1,795-$1,800 range, suggesting limited upside potential, further it has been trading in a lower top lower bottom formation suggesting weakness in the medium term and further downside potential. It would be prudent to say that Gold could decline towards $1,765 and $1,750 while it sustains below $1,805.

Prepared by
Technical Analysis Team

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