GOLD: The commodity halted its weakness to close slightly lower on a rejection candle on Wednesday. This development has left GOLD targeting further recovery higher possibly towards the 1085.11 level. It was seen heading higher during early Thursday trading session. On the upside, resistance resides at the 1085.00 level where a break will aim at the 1095.00 level. A turn above there will expose the 1105.00 level. Further out, resistance stands at the 1115.00 level. Its daily RSI is bullish and pointing higher suggesting more strength. 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. All in all, GOLD corrective offensive eyes 1085.11 zone and beyond.
