26 June Wednesday View

After last Wednesday and Thursday fall, Gold price briefly found support at 30990 (USD 1285.27) and consolidate in between 30990 and 31420 (USD 1303.10) till yesterday. We were expecting the price to be supported by this level and see further consolidation towards 33000 (USD 1368.63), let the indicators align and then start another move but that level couldn't hold, so that didn't happen. Early today morning it broke 30990 and tumbled down to 30000 (USD 1244.21) level, now trading at 30119 (USD 1249.14).

So for now we have 30000 (USD 1244.21) support and 30990 (USD 1285.27) resistance. Let's see how the price unfolds. Since the broader sentiment is absolutely Bearish, just look for opportunities to open short.

Stay Safe :)