HomeContributorsTechnical AnalysisGOLD Retains Its Broader Upside Bias

GOLD Retains Its Broader Upside Bias

GOLD faces risk of price recovery despite its Wednesday price hesitation. On the upside, resistance resides at the 1,650.00 level. Further out, resistance stands at the 1,660.00 level. A break below here will aim at 1,670.00. On the downside, support sits at the 1,640.00 level where a break will turn focus to the 1,630.00 level. Further down, a cut through here will open the door for a move decline towards the 1,620.00 level. Below here if it occurs will trigger further downside pressure aiming at the 1,610.00 level. All in all, GOLD looks to strengthen further.

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FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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