GOLD Bull Pressure Eyes Range Top At 1,211.28 Zone

Mohammed Isah FXTechstrategy

GOLD bull pressure eyes range top located at the 1,214.28 area. On the downside, support comes in at the 1,200.00 level where a break will turn attention to the 1,190.00 level. Further down, a cut through here will open the door for a move lower towards the 1,180.00 level. Below here if seen could trigger further downside pressure targeting the 1,170.00 level. On the upside, resistance comes in at the 1,214.00 level where a break will clear the way for move towards the 1,220.00 level. A turn above here will expose the 1,210.00 level. Further out, resistance stands at the 1,230.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, GOLD looks to strengthen further with eyes on its range top.

Author

Mohammed Isah

FXTechstrategy

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market since 2010.

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