Gold fades bounce off 12-day low, eases from intraday high off-late. Receding bullish signals from MACD, downside break of 21-day SMA direct sellers toward March 12 low. 10-day SMA, two-month-old falling trend line add to the upside filters. Following its failures to rise past-$1,714.46, gold prices drop to $1,710, down 0.11% intraday, during early Tuesday. In doing so, the yellow metal justifies the previous day’s daily closing below 21-day amid weakening bullish MACD signals. Also favoring the gold sellers could be the commodity’s sustained trading below 10-day SMA and a descending resistance line from January 29. As a result, the bears are all set to challenge March 12 lows near the $1,700 threshold before attacking the monthly bottom surrounding $1,675. It should, however, be noted that a downward sloping trend line from August 2020, near $1,656, could restrict the quote’s further south-run. Alternatively, an upside clearance of 21-day SMA level of $1,723 isn’t a call to the gold buyers as 10-day SMA and aforementioned resistance line, respectively near $1,731 and $1,735, keep traders worried. Even if the precious metal crosses $1,735 on a daily closing basis, November 2020 lows near $1,765 become the key resistance to watch for the gold buyers. 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 DXY eyeing fresh highs as 10-year yields pierce Wall Street’s tops FX Street 1 year Gold fades bounce off 12-day low, eases from intraday high off-late. Receding bullish signals from MACD, downside break of 21-day SMA direct sellers toward March 12 low. 10-day SMA, two-month-old falling trend line add to the upside filters. Following its failures to rise past-$1,714.46, gold prices drop to $1,710, down 0.11% intraday, during early Tuesday. In doing so, the yellow metal justifies the previous day's daily closing below 21-day amid weakening bullish MACD signals. Also favoring the gold sellers could be the commodity's sustained trading below 10-day SMA and a descending resistance line from January 29. As a result, the… 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.