Something Big is Cooking in the Gold...

After a tremendous run in the past few weeks, Now something big is cooking at the higher levels. On the daily chart, Gold (April) formed a Rising Wedge Pattern (Bearish Pattern) and recently broke the lower support line on the downside, indicating a bearish momentum in the upcoming sessions. Gold has crucial support around 56770 and upside major resistance around 57500 levels. If it breaks and close below 56770 then we will expect a sharp downfall till 56300 and then to 55800 levels in the upcoming sessions.

If unable to breach its support then it will test its major resistance of 57500 levels. Break and a daily close above 57500 will take it towards the fresh highs of 58000+++ levels. (Gold April Daily Chart)

*T&C Apply...