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GOLD - Downside Remains At Risk While Recovery Actions Are Limited By 200SMA

Discussion in 'Technical Analysis' started by Kaitlin, Oct 11, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Near-term recovery from fresh low at $1241 remains limited, as upticks were capped at $1265 (Fibo 23.6% of entire $1343/$1241 fall) and the action of past two days closed below 200SMA (currently at $1261) which still act as solid resistance. Long-legged Doji on Friday signaled indecision, while yesterday’s daily candle[​IMG]

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