GOLD: Having sold off on Wednesday to close lower, GOLD targets its key support on bear pressure. This development now leaves it aiming at its key support zone at the 1046/47.00. While it trades and holds below the 1085/88 zone, its broader bias remains lower. On the downside, support comes in at the 1050.00 level where a break will turn attention to the 1040.00 level. Further down, a cut through here will open the door for a move lower towards the 1030.00 level. Below here if seen could trigger further downside pressure targeting the 1020.00 level. Conversely, resistance resides at the 1075.00 level where a break will aim at the 1088.00 level. A turn above there will expose the 1098.00 level. Further out, resistance stands at the 1110.00 level. All in all, GOLD targets its key support on bear pressure with eyes on the 1046/47.00 zone.
25th April 2016
GOLD Targets Its Key Support On Bear Pressure
