GOLD: Sells Off, Vulnerable.
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
GOLD: With a strong sell off occurring the past week, further declines is likely to continue. This will leave the pair targeting further downside towards the 1,439.42 level, its weekly ema. We may see a back off higher from here but if broken further downside could follow towards the 1,400 level and then the 1,380.00 level. Its weekly RSI is bearish and pointing lower suggesting further downside. Conversely, GOLD will have to return above the 1,590.40 level to reverse its decline and create scope for more upside. Further out, resistance resides at the 1,619 level followed by the 1,669 level where a break will target the 1,695 level. All in all, GOLD remains vulnerable to the downside on further downside in the medium term.