GOLD Broader Bias Remains To The Downside Short Term

12 nov 2019

GOLD faces risk of more weakness in the days ahead as it retains its downside pressure. On the downside, support sits at the 1,340.00 level where a break will turn focus to the 1,430.00 level. Further down, a cut through here will open the door for a move decline towards the 1,420.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,410.00 level. Conversely, resistance resides at the 1,460.00 level. Further out, resistance resides at the 1,470.00 level where a break will aim at the 1,480.00 level. A turn above there will expose the 1,490.00 level. Further out, resistance stands at the 1,500.00 level. All in all, GOLD looks to correct further lower.