GOLD: Retains Upside Tone Despite Price Hesitation

10 January 2017, 15:03
FXTechstrategy
0
13

GOLD: The commodity took back its Friday losses to close higher on Monday. Tough seen hesitating, it still faces upside risk. On the downside, support comes in at the 1,170.00 level where a break will turn attention to  the 1,160.00 level. Further down, a cut through  here will open the door for a move lower towards  the 1,150.00 level. Below here if seen could  trigger further downside pressure targeting the  1,140.00 level. Conversely, resistance resides at the 1,190.00 level where a break will aim at the  1,200.00 level. A turn above there will expose the  1,210.00 level. Further out, resistance stands at  the 1,220.00 level. All in all, GOLD looks to recover further higher.

 

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