As per this chart, the gold trend confirms through a level of 38260. Below 38260 level: it can continue downfall up to 37100 – 36900.
Gold futures (CFD) level 1498 confirms a solid uptrend for short-term investors. Additionally, with an uptrend channel help we will see again 38500 – 39000 – 39500 – 40000 levels. We recommend reading our 26 Aug 2019’s this newsletter: MCX Gold & Silver – Outperforming
Who’s going to initiate a short position on gold? Keep these two major factor in your mind: RSI Breakout and MACD Crossover. Don’t forget to check Moving average 50 & 200 alignments.
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