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Gold buy confirm signals

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Gold price defended the rising trendline support at $1,978 on Monday. But sellers have flexed their muscles, teasing an ascending triangle breakdown on the daily chart early Tuesday.

If Gold price manages to yield a daily closing below the rising trendline support, now at $1,981, a downside break from the ascending triangle will be confirmed.

Immediate cushion is seen at a November 1 low of $1,970. A failure to resist above the latter will target a bullish 21-day Simple Moving Average (SMA) at $1,966.

Gold buy now 1973
Target 1977
Target 1981
Target 1991

SL 1963

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