Gold remains on the back foot despite recent corrective pullback. Sustained break of 200-day SMA, most bearish MACD in six weeks favor gold sellers. Gold licks its wounds near $1,831, down 0.90% intraday, during early Monday. In doing so, the yellow metal steps back from the intraday low, also the lowest since December 02, as an ascending trend line from March 20, 2020, restricts the bullion’s further downside. Although the key support line questions gold sellers, the commodity’s sustained trading below 200-day SMA and the most MACD signals since early December suggest the quote’s further downside. As a result, fresh selling can wait for a clear downside break of a medium-term key trend line support, at $1,813 now. Following that, the $1,800 threshold can offer intermediate support ahead of highlighting November’s low near $1,765 on the gold bears’ radar. Meanwhile, a corrective pullback above the 200-day SMA level of $1,840 may target to regain the $1,900 threshold but gold buyers need to remain cautious unless breaking a descending trend line from mid-September, currently around $1,962. Overall, gold is up for a lower grind but hopes of the US stimulus can renew risks and favor the bounce off the important support line. Read: S&P 500 Futures snap four-day winning streak amid covid fears, Sino-American tussle Gold daily chart Trend: Further weakness 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: Tactically cautious on the yen – Goldman Sachs FX Street 1 year Gold remains on the back foot despite recent corrective pullback. Sustained break of 200-day SMA, most bearish MACD in six weeks favor gold sellers. Gold licks its wounds near $1,831, down 0.90% intraday, during early Monday. In doing so, the yellow metal steps back from the intraday low, also the lowest since December 02, as an ascending trend line from March 20, 2020, restricts the bullion’s further downside. Although the key support line questions gold sellers, the commodity’s sustained trading below 200-day SMA and the most MACD signals since early December suggest the quote’s further downside. As a result, fresh… 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.