GOLD: With the commodity reversing its previous losses to close lower the past week, GOLD continues to maintain bear pressure with eyes on 1046.00 zone. While it trades and holds below the 1085/88 zone, our immediate 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 1070.00 level where a break will aim at the 1080.00 level. A turn above there will expose the 1090.00 level. Further out, resistance stands at the 1100.00 level. All in all, GOLD continues to maintain bear pressure with eyes on 1046.00 zone.
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report.
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