Gold sold off further on Tuesday despite equities finishing the session relatively flat. Gold has dipped below our 2nd tier uptrend line, but still has the psychological $900/oz area and our 1st tier uptrend line to rely on.

Gold's correlation with equities has been a bit out of whack over the past few sessions, which could indicate healthy fundamental profit-taking.

On the other hand, if Gold closes below $900/oz. and our 1st tier, we could witness a heightened selloff in Gold coupled with a strong rally in equities. Considering the remaining fundamental supports, we maintain our positive outlook on Gold trend wise.

Fundamentally, we find resistances of $922.49/oz, $930.76, $937.81/oz, and $945.57/oz.

To the downside, we see supports of $911.60/oz, $903.29/oz., $895.12/oz., and $889.48/oz. The $900/oz area should serve as a reliable psychological cushion in the near-term. Gold is currently trading at $911.71/oz.

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