Gold moves within a narrow range, but prices stabilizes below SMA20 and SMA50 in addition to stable move below 1171.00.
Any trading below these levels is negative, as we may witness a visit towards 38.2% Fibonacci despite the positive signs on RSI and ADX.
As far as gold moves below 1171.00, we will be bearish and a break below 1158.00 will cancel out the signs on RSI and ADX.
Support: 1158.00 – 1147.00 – 1137.00
Resistance: 1168.00 – 1171.00 – 1180.00
Direction: Bearish below 1158.00