GOLD: GOLD looks to weaken on bearishness following its past week losses. While the 1088/98 zone remains unbroken, its broader bias remains lower. On the downside, support comes in at the 1070.00 level where a break will turn attention to the 1060.00 level. Further down, a cut through here will open the door for a move lower towards the 1045.00 level. Below here if seen could trigger further downside pressure targeting the 1030.00 level. On the upside, resistance resides at the 1088.00 level where a break will aim at the 1100.00 level. A turn above there will expose the 1110.00 level. Further out, resistance stands at the 1120.00 level. Its weekly RSI is bearish and pointing lower suggesting more strength. All in all, GOLD looks to weaken on bearishness targeting the 1064.23 level.
Get More Power Over Your Trading With Less Hassle
FXTechstrategy delivers powerful buy/sell trade ideas with stop losses, price targets and super-easy analysis to help you improve your results
GET MORE POWER OVER YOUR TRADING WITH LESS HASSLE
The Award-Winning Analysis Solution for Forex & Commoditidy Traders
Your trading, made easier
Get 15+ super-easy trade ideas with powerful daily analysis and easy-to-understand strategy eBook
Stay on top of every move with price action to help you make easier, faster, and more accurate trading decisions.
Whether your strategy is for day trading or swing trading FXTechstrategy analysis fits in seamlessly with no hassles.