GOLD: Outlook for GOLD continues to point lower leaving risk of further downside pressure on the cards. On the downside, support comes in at the 1,180 level where a break will aim at the 1,160.00 level. Below here if seen could trigger further downside towards the 1,140.00 level where a break will aim at the 1,120.00 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1,220.00 level where a break will aim at the 1,250.00 level. A break of here will turn attention to the 1,280.00 level followed by the 1,300.00 level. A cut through here will extend gains towards the 1,320.00 level. All in all, GOLD remains biased to the downside on price failure
GOLD: Outlook for GOLD continues to point lower leaving risk of further downside pressure on the cards. On the downside, support comes in at the 1,180 level where a break will aim at the 1,160.00 level. Below here if seen could trigger further downside towards the 1,140.00 level where a break will aim at the 1,120.00 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, resistance resides at the 1,220.00 level where a break will aim at the 1,250.00 level. A break of here will turn attention to the 1,280.00 level followed by the 1,300.00 level. A cut through here will extend gains towards the 1,320.00 level. All in all, GOLD remains biased to the downside on price failure
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