Gold Sees Further Corrective Pullback

Gold: With the commodity declining on correction the past week, more weakness is envisaged in the new week. On the downside, support comes in at the 1,320.00 level where a break will turn attention to  the 1,310.00 level. Further down, a cut through  here will open the door for a move lower towards  the 1,300.00 level. Below here if seen could  trigger further downside pressure targeting the 1,290.00 level. Conversely, resistance resides at the 1,340.00 level where a break will aim at the  1,350.00 level. A turn above there will expose the 1,360.00 level. Further out, resistance stands at  the 1,370.00 level. All in all, Gold looks to  strengthen further on correction.

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Chee Hin Teh 8 years ago Member's comment

Thanks for sharing