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.

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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