Gold has been no stranger to volatility in the last few weeks. There was a sell-off towards the levels of $1762, but now the price has rebounded towards the $1787 resistance zone. Gold's rally failed to surpass the $1800, in the short term I believe the trend is bearish. The RSI levels on the 4hr chart are overbought at 94.82. The target is the previous support level of $1770-67. The stop-loss area for this trade is located just above the recent high at $1788.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.