- One hour chart shows price continues to stay inside the bearish channel.
- Gold bulls will remain weak till price stay below 1335 and stay inside the bearish channel.
August 29, 2016
- Hourly charts shows support around 8540 levels. If bears unable to break this soon then price may move back into the range between 8600-8690. Immediate resistance for the current up move is the broken support of range around 8600 level.
- Daily rising support line was violated last week But bears are not getting follow up price action. Bears need a close below this line for bigger falls to follow.