Gold stays depressed around intraday low, trims biggest gains since January. Receding strength of bearish MACD, sustained trading beyond 200-SMA favor buyers. Buyers need to stay cautious despite confirming the bullish chart pattern unless crossing $1,765. Gold remains pressured around $1,713, down 0.18% intraday, ahead of Wednesday’s European session. Although the bullion fades upside momentum after the heaviest run-up in two months, it does portray a bullish chart formation, called bullish flag, on the 30-minutes (30M). Not only the bullish chart pattern but the commodity’s successful trading above 200-SMA as well as receding strength of the bearish MACD also favor gold buyers. However, a clear upside break of $1,720 becomes necessary before directing the bulls towards confronting November 2020 lows near $1,765. During the rise, $1,740 can offer an intermediate halt. Meanwhile, a downside break below the stated flag’s support, at $1,710 now, will have to slip beneath the 200-SMA level of $1,702, as well as the $1,700 threshold, to confirm refreshing the latest multi-day low around $1,676. Overall, gold consolidates recent gains ahead of the key US stimulus decision but the bullish chart pattern keeps the case interesting. Gold 30-minute chart Trend: Further recovery expected  FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY risk reversals drop to most in two weeks FX Street 1 year Gold stays depressed around intraday low, trims biggest gains since January. Receding strength of bearish MACD, sustained trading beyond 200-SMA favor buyers. Buyers need to stay cautious despite confirming the bullish chart pattern unless crossing $1,765. Gold remains pressured around $1,713, down 0.18% intraday, ahead of Wednesday's European session. Although the bullion fades upside momentum after the heaviest run-up in two months, it does portray a bullish chart formation, called bullish flag, on the 30-minutes (30M). Not only the bullish chart pattern but the commodity's successful trading above 200-SMA as well as receding strength of the bearish MACD also favor… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.