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Gold Facing Stiff Resistance Despite Softer US ISM

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Gold bugs will no doubt be pleased with the recent rally in the precious metal but further gains could be in question as the bearish trend line is likely to cap further gains. The past few weeks have been one of celebration for precious metal advocates as Gold and Silver seemingly turned a corner and started trending higher. The rally was largely fuelled by mounting speculation over the current state of the US economy and Yesterday’s weak ISM figure seemed to confirm that softness abounds.

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