GOLD Broader Bias Remains Lower

31 October 2016, 04:26

GOLD: Having remained vulnerable to the downside, more weakness is likely in the new week. On the downside, support comes in at the 1,270.00 level where a break will turn attention to  the 1,260.00 level. Further down, a cut through  here will open the door for a move lower towards  the 1,250.00 level. Below here if seen could  trigger further downside pressure targeting the  1,240.00 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 1,350.00 level. All in all, GOLD looks to recover higher on correction.


Share it with friends: