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GOLD: Loses Upside Steam, Vulnerable

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GOLD: Loses Upside Steam, Vulnerable

Postby FXTechstrategy » Mon Apr 03, 2017 12:22 am

GOLD: The commodity faces downside pressure after rejecting higher prices the past week. On the downside, support comes in at the 1,240.00 level where a break will turn attention to the 1,230.00 level. Further down, a cut through here will open the door for a move lower towards the 1,220.00 level. Below here if seen could trigger further downside pressure targeting the 1,210.00 level. Conversely, resistance resides at the 1,260.00 level where a break will aim at the 1,270.00 level. A turn above there will expose the 1,280.00 level. Further out, resistance stands at the 1,290.00 level. All in all, GOLD looks to strengthen further but with caution.

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FXTechstrategy
 
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