Gold is following a downward channel. It seems that this is very strong channel. We can follow this channel for taking entry. When it touches upper line of the channel then we can sell on gold. It is looking for important support area at 1180 level. We can expect more downward movement on gold. H4, daily and weekly candle also giving sell signal on gold. So we can stay on downside for coming trading days.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 1251
Resistance One (R1): 1226
Pivot Point: 1211
Support One (S1): 1186
Support Two (S2): 1171
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