GOLD: Although GOLD closed higher the past week, it faces a pullback risk after printing a negative candle ahead of its key resistance on daily chart on Friday. Support lies at the 1,282.00 level where a break will aim at the 1,257.68 level with a break targeting the 1,240.00 level. Below here will expose the 1,220 level and then the 1,200.00. Conversely, resistance lies at the 1,330.00 level where a break will target the 1,345.90 level followed by the 1,345.90 level. A cut through here will extend gains towards the 1,360.30 level. A violation will aim at the 1,380.00 level. All in all, GOLD remains biased to the upside in the nearer term.
GOLD: Although GOLD closed higher the past week, it faces a pullback risk after printing a negative candle ahead of its key resistance on daily chart on Friday. Support lies at the 1,282.00 level where a break will aim at the 1,257.68 level with a break targeting the 1,240.00 level. Below here will expose the 1,220 level and then the 1,200.00. Conversely, resistance lies at the 1,330.00 level where a break will target the 1,345.90 level followed by the 1,345.90 level. A cut through here will extend gains towards the 1,360.30 level. A violation will aim at the 1,380.00 level. All in all, GOLD remains biased to the upside in the nearer term.
GET THE FULL ANALYSIS WITH 4-15 TRADE ALERTS DAILY
UNPARALLELED ANALYSIS covering EURUSD, GBPUSD, USDJPY, AUDUSD, EURJPY, EURGBP, USDCAD, USDCHF, GBPJPY, EURCHF and 5 Commodities Daily.GET YOUR ANALYSIS & TRADE ALERTS
Related Posts: