The ounce of gold is falling again following the contact with the downward oblique resistance in red on the graph. In terms of technical indicators, the RSI remains bearish under the neutral zone while the MACD, in negative territory, still operates under its signal. Investors will therefore attempt a bearish trade on the ounce of gold targeting the $1535 area, major support for several weeks. This scenario would be invalidated if we exceed the moving average at 20 sessions.
Direction: Down
Entry: $1,556
Stop-Loss: $1595
Take-profit: $1,540
