Capital Trust
Capital Trust

Dec 06, 2016

03:19 AM EDT

  • New York close
  • London open
  • Tokyo open
  • Sydney close
Market Analysis

Home » Technical Analysis » GOLD Faces More Downside Risk On Pullback

GOLD Faces More Downside Risk On Pullback

Posted by FXTechstrategy Team in Technical Analysis - January 8th, 2016 3:31 pm GMT


GOLD: Having capped its strength at 1113.09 level to weaken during Friday trading session, GOLD faces more downside risk on pullback. Except it retakes the 1113.09 resistance, it should target further weakness. On the downside, support comes in at the 1090.00 level where a break will turn attention to the 1080.00 level. Further down, a cut through here will open the door for a move lower towards the 1070.00 level. Below here if seen could trigger further downside pressure targeting the 1060.00 level. Conversely, resistance resides at the 1115.00 level where a break will aim at the 1125.00 level. A turn above there will expose the 1140.00 level. Further out, resistance stands at the 1150.00 level. All in all, GOLD faces more downside risk on pullback following failed attempt on the upside.


Share!Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+

No comments yet.

You must be logged in to post a comment.

Forex, Commodities, Indices

Daily Updates

Daily Updates

Get the latest fundamental analyses, technical analyses and the most up-to-date Forex news catered to your interests, everyday.