GOLD Risk Turns Lower On Bear Pressure

8 November 2016, 14:55
FXTechstrategy
0
31

GOLD: Having rejected higher prices on Monday, further weakness is likely. 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 1,290.00 level where a break will aim at the  1,300.00 level. A turn above there will expose the  1,310.00 level. Further out, resistance stands at  the 1,330.00 level. All in all, GOLD looks to recover higher on correction.

 

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