Technical review
On the up side, gold will still not break the $1800.00 mark. Major resistance is at $1815.20 (last 10 weeks' High was on Feb. 23).
The next area to watch is below the $1789.85 range (last Friday's high) and if gold continues below the $1789.85 range, we will expect it to fall below the $1754.85 range (last week's low - 50% Fibonacci Level).
Gold prices were volatile yesterday due to US Bond yields, but in the afternoon US sessions, Bond yields saw all of their profits washed away. While the gold and silver prices ratio was down -02.60% on Monday, it'll have more of an effect on silver prices; silver prices were up +05.00%.
The expectation is for some profit booking in Bond yields and the gold and silver ratio.
From a trading point of view, short gold prices at every high level.
And this week, you will see gold prices break below last week's low.
Intraday And STBT Trading Strategy For Gold And Silver
Sell gold in the $1797.50-$1799.90 range (June-Future)
SL $1815.20
Tgt1 $1760.00
Tgt2 $1750.00
Tgt3 $1740.00...