- Despite gold’s rise on Thursday on the back of strong volumes, a subsequent failure to extend gains beyond expanding triangle resistance on daily followed by a rejection at 10-DMA in early Asia suggests a fresh sell-off to previous day’s low of $1310 is likely.
- A violation there would expose rising daily trend line level of $1307.
- On the higher side, only a daily closing above $1337 would signal bearish invalidation.
