(23 OCTOBER 2017)GOLD (in USD):Fading bullish momentum.

(23 OCTOBER 2017)GOLD (in USD):Fading bullish momentum.

23 October 2017, 14:03
Jiming Huang
0
12

gold


Fading bullish momentum.

(By Peter Rosenstreich)

• Gold remains weak as broken the support at

1284 confirms an underlying bearish trend.

Strong support lies at a distance at 11267 then

1204 (10/07/2017 high). Resistance is located at

1288 (20/10/2017).

• In the long-term, the technical structure

suggests that there is a growing upside

momentum. A break of 1392 (17/03/2014) is

necessary ton confirm it, A major support can be

found at 1045 (05/02/2010 low).

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