Gold correctional wave reaches $3,280 as bears aim $3,268-$3,248

Break Below psychological zone $3300 has further weakened the potential for Gold's upside move on immediate basis.
Selling pressure dominates as Bears eyeing break below $3280 for further drop to $3268 and $3248
Any bounce back off the lows is likely to face hurdle at $3300 above which next challenge sits at $3316
Clearing through $3316 will witness next resistance $3333-$3338
Strong break above $3333-$3338 will be turning point for further acceleration upwards.

Sunil Kumar Dixit SK Charting

Author

Sunil Kumar Dixit

SK Charting

Sunil Kumar Dixit is Chief Technical Strategist and founder of SK Charting, a research firm based in India. He tracks Precious Metals, Energy, Indices and Currency Pairs. He also participates as an expert panellist on Channel Television, Nigeria.

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