GOLD Puts In Temporary Bottom

16 November 2016, 02:01
FXTechstrategy
0
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GOLD: Having halted its downside pressure to close higher on Tuesday, further recovery is expected. On the downside, support comes in at the 1,220.00 level where a break will turn attention to  the 1,210.00 level. Further down, a cut through  here will open the door for a move lower towards  the 1,200.00 level. Below here if seen could  trigger further downside pressure targeting the  1,190.00 level. Conversely, resistance resides at the 1,240.00 level where a break will aim at the  1,250.00 level. A turn above there will expose the  1,260.00 level. Further out, resistance stands at  the 1,270.00 level. All in all, GOLD looks to weaken further on correction.

  

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