GoldBias: Slightly NegativeLast close: Rs 50,829Resistance: Rs 51,500Downside Potential: Rs 48,950The MCX Gold June futures have pulled back after testing support around the lower-end of the Bollinger Band on the daily charts. The commodity is currently testing resistance around its 20-DMA placed at Rs 50,800-odd level, above the Gold prices may look to extend gains. However, the upside seems capped around its 50-DMA placed at Rs 51,500-odd level.The overall bias seems slightly negative, hence one can expect strong resistance for Gold futures around the 50-DMA. The broader trend indicates that Gold prices are likely to drop towards the 200-DMA placed at Rs 48,950-odd level.According to the key momentum oscillators, the MACD (Moving Average Convergence and Divergence) seems to be recovering from oversold zone, and same is the case with the 14-day RSI (Relative Strength Index) on the daily charts. Hence, some upside in the near term can