GOLD eyes further weakness as it faces more bear pressure in the new week. On the downside, support sits at the 1,480.00 level where a break will turn focus to the 1,470.00 level. Further down, a cut through here will open the door for a move decline towards the 1,460.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,450.00 level. Conversely, resistance resides at the 1,500.00 level. Further out, resistance resides at the 1,510.00 level where a break will aim at the 1,520.00 level. A turn above there will expose the 1,530.00 level. Further out, resistance stands at the 1,540.00 level. All in all, GOLD looks to weaken further on corrective pullback pressure.
GOLD Remains Vulnerable With Further Decline Expected
by Mohammed Isah | September 16th, 2019
GET MORE POWER OVER YOUR TRADING WITH LESS HASSLE
The Award-Winning Analysis Solution for Forex & Commoditidy Traders
Your trading, made easier
RGet 15+ super-easy trade ideas with powerful daily analysis and easy-to-understand strategy eBook
RStay on top of every move with price action to help you make easier, faster, and more accurate trading decisions.
RWhether your strategy is for day trading or swing trading FXTechstrategy analysis fits in seamlessly with no hassles.