Forex Forum to Share, Discuss, Communicate and Trade Forex

GOLD: Remains Bullish In The Short Term

Discuss Technical Analysis for various currency pairs and share your views. You may also like to check our Forex technical analysis and Forex forecast sections.
Image

GOLD: Remains Bullish In The Short Term

Postby FXTechstrategy » Thu Feb 02, 2017 12:43 pm

GOLD: The commodity rallied on Thursday following its recent bullish short term uptrend. On the downside, support comes in at the 1,210.00 level where a break will turn attention to the 1,200.00 level. Further down, a cut through here will open the door for a move lower towards the 1,190.00 level. Below here if seen could trigger further downside pressure targeting the 1,180.00 level. Conversely, resistance resides at the 1,230.00 level where a break will aim at the 1,240.00 level. A turn above there will expose the 1,250.00 level. Further out, resistance stands at the 1,260.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GOLD looks to strengthen further in the days ahead.

Image
FXTechstrategy
 
Posts: 256
Joined: Sat May 14, 2016 4:52 pm

Return to 2+1 = 3 - Technical Analysis Discussions

 

Who is online on Forum

Registered users: Baidu [Spider], Bing [Bot], Google [Bot], Joy Bahadur, l3imadi

cron