Forex Trading Library

Gold 2016-12-14

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as we see over our previous chart

We mentioned last week that Gold may bottomed or close to hit bottom before rebound correction may hit the market

Gold managed this week to test near 1150 support while as long as market holding daily close above 1145 another rebound correction wave may hit market toward 1220 zone

Intraday indicators showing first resistance at 1162-65 where as long as market holding below the downtrend pressure may sustain for more drop

Above 1165 more advance will be expected toward 1181

A daily close below 1145 may set new downtrend wave toward 1125 and 1110

  Support Resistance
Level 1 1150 1165
Level 2 1125 1181
Level 3 1110 1197
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