GOLD: Bearish for short-term

٢٨ يوليو ٢٠١٧

Gold reached the target which I mentioned in my previous analysis now I see the Negative divergences on RSI. Gold can behave in a bearish manner in short term. So a pull back is expected from the daily cloud resistance and the Price could test 1230-1235 level in the near term. Selling at this stage with tight stops looks good strategy.
Recommendations: Short at 1260 with stop at 1270, Target 1235.
Good Luck