GOLD Rejects Lower Price, Eyes Recovery

5 September 2016, 02:57
FXTechstrategy
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GOLD: With the commodity rejecting higher prices the past week, a move higher on correction is envisaged. On the downside, support comes in at the  1,310.00 level where a break will turn attention to  the 1,300.00 level. Further down, a cut through  here will open the door for a move lower towards  the 1,290.00 level. Below here if seen could  trigger further downside pressure targeting the  1,280.00 level. Conversely, resistance resides at the 1,330.00 level where a break will aim at the  1,340.00 level. A turn above there will expose the  1,350.00 level. Further out, resistance stands at  the 1,360.00 level. All in all, GOLD looks to  strengthen further on correction.

 


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