Gold has been trending downwards since the 8th of January 2016, with the bears leading the price from as high as 1113.21 to as low as 1081.79.
During the course of the day on Monday, the pair fell from 1095.12 to 1081.91. In the event that the buyers manage to gain momentum and push the price above 1093.79, the price could reach 1097.37 and 1101.14 respectively.
On the other side, where the sellers keep exerting strong pressures and the price breaks below 1079.00, the price could decelerate down to 1070.97.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.