GOLD: Looks To Pullback On Correction

26 September 2016, 01:26
FXTechstrategy
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GOLD: With the commodity still trading below its key resistance we envisage a move lower in the new week. On the downside, support comes in at the 1,330.00 level where a break will turn attention to  the 1,320.00 level. Further down, a cut through  here will open the door for a move lower towards  the 1,310.00 level. Below here if seen could  trigger further downside pressure targeting the  1,300.00 level. Conversely, resistance resides at the 1,340.00 level where a break will aim at the  1,350.00 level. A turn above there will expose the  1,360.00 level. Further out, resistance stands at  the 1,370.00 level. All in all, GOLD looks to weaken further on correction.

 


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