Gold was down on Tuesday morning in Asia as the greenback gained strength. A rapid rise in U.S. tech stocks also drew investors’ interest away from the precious metal. Gold fell in morning trade in Asia, following a flat previous session. The dollar strengthening gave the precious metal its downwards trend, with major rises in U.S.
Technically, the MACD is curving Down. The GOLD market suggests a turnover, signaling for bear trending selloffs to reach under the 1900.0 swing low. A close under Friday’s 1891.0 low will help motivate selloffs. Any corrective recovery action should stay trapped in last week’s range to maintain bear trend signals.