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GOLD: Weakens, Eyes The 1,225.71 Support Level

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 23, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
    Likes Received:
    GOLD: With GOLD selling off strongly on Wednesday, further weakness is likely. This leaves the 1,225.71 level as the next support. On the downside, support comes in at the 1,220.00 level where a break will turn attention to the 1,210.00 level. Further down, a cut through here will open the door for a move lower towards the 1,200.00 level. Below here if seen could trigger further downside pressure targeting the 1,190.00 level. Its daily RSI is bearish and pointing lower supporting this view.

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