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Gold: Faces More Downside Risk On Pullback

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GOLD: Having capped its strength at 1113.09 level to weaken during Friday trading session, GOLD faces more downside risk on pullback. Except it retakes the 1113.09 resistance, it should target further weakness. On the downside, support comes in at the 1090.00 level where a break will turn attention to the 1080.00 level. Further down, a cut through here will open the door for a move lower towards the 1070.00 level. Below here if seen could trigger further downside pressure targeting the 1060.00

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