GOLD Retains Its Upside Pressure
GOLD: The commodity continues to hold on to its upside pressure short term leaving risk higher in the new week. On the downside, support comes in at the 1,270.00 level where a break will turn attention to the 1,260.00 level. Further down, a cut through here will open the door for a move lower towards the 1,250.00 level. Below here if seen could trigger further downside pressure targeting the 1,240.00 level. Conversely, resistance resides at the 1,290.00 level where a break will aim at the 1,300.00 level. A turn above there will expose the 1,310.00 level. Further out, resistance stands at the 1,320.00 level.
Strategy: Buy at 1,279.00, Stop loss at 1,264.00, Price target at 1,295.00 & 1.305.00
Strategy: Buy at 1,279.00, Stop loss at 1,264.00, Price target at 1,295.00 & 1.305.00
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.