GOLD: Risk Remains To The Downside

GOLD: The commodity looks to extend its downside pressure as it continues to retain its downside pressure. 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 towards 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 weaken further on correction.




This is an excerpt fromFXT Technical Strategist Plus(PRO Plan Package), a 7-currency model analysis and trade alerts utilized by all levels of traders with trade alerts.See Pricing and Get Strated