FX.co ★ Analysis of Gold for April 09,.2021 - Rejection of the Median Pitchfork trendline and potential for test of $1.736

UK March Halifax house prices +1.1% vs -0.1% m/m prior

Prior -0.1%House prices +6.5% y/yPrior +5.2%The UK housing market is seeing a resurgence in March after a bit of moderation at the start of the year, no doubt with the stamp duty holiday extension helping. The rise sees the average price of dwellings in the UK move up to £254,006 - a record high.

Further Development

Analyzing the current trading chart of Gold, I found that there is the rejection of the median Pitchfork trend-line as we expected.

Watch for selling opportunities on the rallies with the downside target at $1.736.

Additionally, there is the bearish divergence on the Stochastic oscillator, which is another sign for further downside movement.Key Levels:Resistance: $1.755Support levels: $1.736