Gold sell-off could be overdone and there is a scope for a quick recovery to $125-1260/Oz levels given the bullish price-RSI divergence on the daily chart and the rise in the US inflation expectations to 2-year high as shown by the 10-year inflation breakeven rate.
On the downside, a major support is seen at the psychological level of $1200. Only a daily close below the same would signal continuation of the post Trump victory sell-off.
Note – Positive daily candle today would confirm bullish price RSI divergence
On the downside, a major support is seen at the psychological level of $1200. Only a daily close below the same would signal continuation of the post Trump victory sell-off.
Note – Positive daily candle today would confirm bullish price RSI divergence
