Gold has showed bearish tendencies due to trading below moving averages and below 61.8% Fibonacci at 1173.00.
Trading below 1173.00 will cause a bearish action towards 1158.00 and 1154.00, while moving below moving averages may help.
ADX and RSI are negative and we keep our outlook unchanged as far as 1173.00 holds.
Support: 1165.00 – 1158.00 – 1150.00
Resistance: 1173.00 – 1180.00 – 1189.00
Direction: Bearish