Gold remains under pressure at the start of the trading week, following last weeks heavy rejection from the $1,850 resistance zone. Gold has turned technically bearish below its 200-day moving average and the Stochastic indicator on the daily time frame is issuing a sell signal. The $1,800 level is the key upcoming support barrier that gold bears may look to target next.
XAUUSD is only bullish while trading above the $1,830 level, key resistance is found at the $1,855 and the $1,865 levels.
If XAUUSD trades below the $1,830 level, sellers may test the $1,800 and $1,770 support levels.
