Gold Technical Analysis: There are prospects are for a run down to the 200-D EMA

Gold moved in on a critical support area overnight following Powell.
Gold dropped out of the rising interim channel and the case is building up for a continuation of a southerly trajectory within the descending wedge.
Bulls can target for a close below the 38.2% Fibo at 1275 and look to 1266.
Prospects are for a run down to the 200-D EMA and the confluence area of the 50% retracement target of 1250/1253 respectively.

Ross J Burland FXStreet

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Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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