Gold has been trapped between SMA20 and SMA50, while Fibonacci of 78.6% covers the movements from the topside and 1171.85-88.6%- acts as a floor from the underside.
ADX shows strength on the downtrend and trading below 1179.00 will keep the bearishness in focus.
Trading below 1171.85 is negative.
Support: 1162.00-1157.00-1150.00
Resistance: 1167.00-1171.25-1179.00
Direction: Down –Recommendation is in the subscribers’ area.