Gold may halt rally after 8 Days of Buying as Doji Appears on Daily Chart, Bond Yields crossed 200DSMA on Daily.

Gold Prices took some breather yesterday after touching a All Time High Levels of $2740.60. We have seen some Profit Booking from higher levels & Gold prices corrected and made a low near 2714. However, in Asian Session Buyers again took charge & at the time of writing this report Gold Prices are trading at $2733-2734 Levels.The uncertainty surrounding the US Presidential election on November 5, along with the risk of a broader Middle East conflict and the expected interest rate cuts by major central banks, continue to offer some support to the safe-haven precious metal. However, US10 Year Bond yields have crossed 200DSMA on Daily Chart and currently trading at 4.21%.

Gold Structure: Doji on Daily after 4 days of Uptrend, Possibility of Double top on 4hr.

Intraday Strategy/ Intraday Trend: Buy on Support/ Sell on Resistance, Mild Weak below 2714, Strong above 2740/ Neutral

Weekly Trend: Hyper Bullish

Major Resistance: 2740,Undefined, Undefined

Major Support: 2728,2721,2714