I have mentioned previously about the possibility that the gold would have driven the market lower to 1255.55 if it has broken below 1268 handles. although the market has traded lower for last two days yet it failed to break the mentioned level and rebound from 200 EMA on the daily timeframe. with that, the buyers are clearly trying to impose themselves at this stage, nevertheless, the gold is still under pressure as long as it's trading under 50 EMA on the daily at 1290.30.
if an exhaustion candle could form in the upcoming session, it might open seller's appetite to catch the market around 1290 area targeting the 200 EMA at 1265 handles as a first target and 1255.55 as a second target.
on the other hand, if the buyers continue to boost this market up and make a break above 1290.30 levels, then 1310 could be the next station for buyers to trigger.
if an exhaustion candle could form in the upcoming session, it might open seller's appetite to catch the market around 1290 area targeting the 200 EMA at 1265 handles as a first target and 1255.55 as a second target.
on the other hand, if the buyers continue to boost this market up and make a break above 1290.30 levels, then 1310 could be the next station for buyers to trigger.