We have a rising that was breached on August 8 and since then multiple attempts to get back above the same on daily closing basis have failed.
And now we also have a symmetrical triangle formation.
Amid all this the index is dropping, which goes down well for the bears when viewed in light of multiple failed attempts to retake rising .
Selling is seen gathering pace once $1337 is breached (symmetrical triangle support). The metal could target $1300 in this case
On the higher side, bulls are advised to wait for a convincing close above $1363.