Gold is trading nearly 4% lower on Tuesday despite USD weakness. The gold bugs will be looking at technical support zones and the previous all-time high is next. Gold 4-hour chart Gold seems to be losing some of it shine this week. Now the bulls will be looking for support zones and some of the long term holders could have been profit-taking after the record-breaking rally. Now the new all-time high stands at USD 2075.14 per troy ounce. If there is to be another turn higher then that will surely be the target. Looking closer at the chart, the black horizontal support line at USD 1920.94 per troy ounce is the next support. This was also the previous all-time high from September 2011. Below that, there is also a red upward sloping trendline, it has only had two touches as of yet but it could be significant in the future. The indicators are understandably bearish. The Relative Strength Index is in the oversold area. This could suggest a small pullback is on the way before the underlying move lower continues. The MACD histogram is firmly red and the signal lines have dipped below the zero area for the first time since 10th June. Overall, this is still a firm uptrend. This could be profit-taking or a rotation into other assets but watching out for a support level would be wise as longer-term, buying on dips could still be the play here. Additional levels 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 Canada: Housing Starts rise in July, unlikely to remain at such an elevated level for long – NFB FX Street 2 years Gold is trading nearly 4% lower on Tuesday despite USD weakness. The gold bugs will be looking at technical support zones and the previous all-time high is next. Gold 4-hour chart Gold seems to be losing some of it shine this week. Now the bulls will be looking for support zones and some of the long term holders could have been profit-taking after the record-breaking rally. Now the new all-time high stands at USD 2075.14 per troy ounce. If there is to be another turn higher then that will surely be the target. Looking closer at the chart, the black… 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.