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Gold prices is expected to scale further higher towards 42800 then to Bollinger upper band level of 43040. But slippage below 42250 may push prices lower.
By breaking the SMA level of 46900 may bid intraday selling towards the EMA level of 46450/46100. Inability to challenge below 46900 could lift prices to 47900 region.
Consecutive days of selling pressure continue to push prices lower to the Bollinger lower band level of 3492 initially then to 3430. On the flipside, a vertical rise above 3605 could lift prices higher.
Intraday price recovery on cards, which possibly to the test the price target of 138 and 142.50 there after. But a direct fall below the horizontal trend line support of 130.50 may snatch prices lower.
Present technical formation and chart indicators hinting for further price weakness towards 420.60 then to the support region of 416.50. But retreating trades above the candle high of 425.20 may lift prices higher.
Decisive trades below the immediate hindrance of 908-905 may squeeze down prices lower to 890 or even more. Else hold the above region for rebound, however major recovery could see only above 924 towards the SMA level of 940.
Witnessing selling pressure may extend lower towards 152.30 then to 151 region. But recovery above the Bollinger upper band level of 156.75 in hourly chart could bid a recovery move.
Broad weakness still intact and possibly to extend in the coming session towards the downside objective of 140.50 then to 138. On the flipside, rise above 144 could call a price recovery towards the SMA level of 145.60 region.
As prices broke the trend line support level of 135 region could expect further weakness towards the 133.70 then to 132.50. Upside turn around level can be considered as 135.80.
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