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Gold: Corrective Bias Remains Intact

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GOLD: With the commodity remaining vulnerable to the downside on correction, more weakness is likely. On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,200.00 level. Further down, a cut through here will open the door for a move lower towards the 1,210.00 level. Below here if seen could trigger further downside pressure targeting the 1,200.00 level. Conversely, resistance resides at the 1,240.00 level where a break will aim at the 1,250.00

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