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Forex Forum → Market Analysis → GOLD Targets Further Weakness Towards Psycho Support at 1,300.00 Zone

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Topic: GOLD Targets Further Weakness Towards Psycho Support at 1,300.00 Zone

GOLD: The commodity closed lower the past week to open the door for more weakness. On the downside, support comes in at the 1,310.00 level where a break will turn attention to the 1,300.00 level. Further down, a cut through here will open the door for a move lower towards the 1,290.00 level. Below here if seen could trigger further downside pressure targeting the 1,280.00 level. Conversely, resistance resides at the 1,330.00 level where a break will aim at the 1,340.00 level. A turn above there will expose the 1,350.00 level. Further out, resistance stands at the 1,360.00 level. All in all, GOLD looks to weaken further.

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Forex Forum → Market Analysis → GOLD Targets Further Weakness Towards Psycho Support at 1,300.00 Zone

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