GOLD

While correction gold's recent bounce rejected from RK's stop line along with upper bollinger band on daily time frame, as per wave structure we had marked it as wave X, Overall wave structure is still suggesting corrective phase only, along with trend indicator's support as a same bias by macd on multi time frame, stochastic on daily time frame, RK's momentum and also Dollar index resumes its rally, so Gold can see its slide to south direction near $1710, where wave Z can be equal to wave W. Once price closes below 20DMA which is pegged at $1842, then bear strength can show more power.

Gold has possibly started its wave Z

On daily chart histogram is decreasing

Weekly macd is already in negative way

Monthly macd is also in negative

Daily stochastic negative crossover

RK's momentum also not sustaining positive on daily chart

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I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
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Gold update as per wave structure seen in hourly chart