GOLD: Outlook for GOLD continues to point higher as long as it trades above the 1,162.00 zone. Support comes in at the 1,170.00 level where a break will aim at the 1,160.00 level. A cut through here will open the door for move lower towards the 1,140.00 level. Below here if seen could trigger further downside pressure towards the 1,120.00 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, resistance resides at the 1,200.00 level where a break will aim at the 1,210.00 followed by the 1,224.00 level. A violation of here will turn attention to the 1,240.00 level followed by the 1,250.00 level. All in all, GOLD continues to face corrective recovery threats.
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.