Gold update with weekly chart - 2

Gold has closed below $ 1100 since first week of November, a weekly close below $ 1100 would terminate the on-going bullish run. Now immediate supports are $ 1065 - 1035 - 990 as said in the previous update.

From the chart it clear that Gold is losing the momentum , with MACD on the verge of crossover and RSI dipping lower.

On the higher side it would face resistance at $1118 - 140 - 180 as resistance and move above 1180 would indicate the bullish run to continue.

A close below $ 990 would indicate the end of the uptrend, and start of correction towards $ 865 to 680. So, Long Term Investors, can buy($ 1030 to 1065) on any dips with stop loss $ 990.