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GOLD - Loses Upside Momentum, Vulnerable

Discussion in 'Technical Analysis' started by Kaitlin, May 18, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    GOLD Having lost its upside momentum to close on a rejection candle on Monday, further weakness is envisaged. On the downside, support comes in at the 1,265.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for[​IMG]

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  2. Eliza Abrams

    Eliza Abrams Well-Known Member Trader

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    Gold is continuously testing the support at the MA89 on the 4-hour time frame. If it breaks below it we'll likely see a further move down.
     

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