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Gold: Continues To Trades Below Key Resistance

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GOLD: With GOLD closing marginally lower on a rejection candle the past week (see weekly chart), further downside is likely. On the downside, support comes in at the 1210.00 level where a break will turn attention to the 1200.00 level. Further down, a cut through here will open the door for a move lower towards the 1190.00 level. Below here if seen could trigger further downside pressure targeting the 1180.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely,

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