The ounce of gold is bouncing back since several sessions due to its very strong downtrend those past weeks. Yet, the $1,440 level is blocking the technical bounce that is starting to show signs of weakness. In terms of technical indicators, the RSI is still evolving below its neutral zone while the MACD remains anchored in negative territory. In this context, investors will attempt a bearish trade with a stop loss placed above $1,440 to aim, at first, a return on the $1,320.
Direction: Down
Entry: $1,413
Stop-Loss: $1,460
