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Gold-Watch Out for $1040 for trend reversal

Gold breaks major demand zone level $1070 , this is short term trend reversal level and a decline till $1040 is possible .

  • Overall trend reversal can happen only below $1040 level. Any break below $1040 will target $800.
  • Short term resistance is around $1081 and break above targets $1088/1098.
  • Short term trend reversal only above $1100.

It is good to sell on rallies around $1070-73 with SL around $1081 for the TP of $1042

 

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