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Analysis

Gold faces strong rejection from $3,350 as bears aim lower

  • Gold failed to break above 4 hourly 50 EMA $3352.
  • Selling pressure pushes Gold down breaking swing low of $3312 reaching $3310.
  • Weak rebound attempts reach $3328 and surrender to renewed selling.
  • Break below $3310 will extend decline to $3300, $3290 & $3278.
  • Upward rebound needs strong break above $3330 followed by $3346 and clear acceptance above $3352 followed by $3362.

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