GOLD Looks To Extend Corrective Recovery

24 October 2016, 04:46

GOLD: Having triggered a recovery the past week, more strength is envisaged. On the downside, support comes in at the 1,260.00 level where a break will turn attention to  the 1,250.00 level. Further down, a cut through  here will open the door for a move lower towards  the 1,240.00 level. Below here if seen could  trigger further downside pressure targeting the  1,230.00 level. Conversely, resistance resides at the 1,280.00 level where a break will aim at the  1,290.00 level. A turn above there will expose the  1,300.00 level. Further out, resistance stands at  the 1,310.00 level. All in all, GOLD looks to recover higher on correction.


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