Gold stabilizes below SMA20 at 1235.00, which may bring additional downside movements.
RSI14 and ADX show signs of weakness of bearish correction, but we will depend on the aforementioned stability below SMA20 to be bearish today, targeting 1219.00 at 50% level.
A break below 1219.00 will extend the bearish wave as far as 1247.00 holds.
Support: 1219.00 – 1210.00 – 1200.00
Resistance: 1236.00 – 1240.00 – 1247.00
Direction: Bearish