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FXTechstrategy
Jul 4, 2019 8:58 AM

GOLD Trades Below Key Resistance Zones  Short

TRON / DollarBitfinex

Description


GOLD trades below key resistance zones as it looks to follow through lower on the back of its price rejection. On the downside, support comes in at the 1,408.00 level where a break will turn attention to the 1,400.00 level. Further down, a cut through here will open the door for a move lower towards the 1,390.00 level. Below here if seen could trigger further downside pressure targeting the 1,380.00 level. Its daily RSI is bearish and pointing lower suggesting more weakness. Conversely, resistance resides at the 1,420.00 level. Further out, resistance resides at the 1,430.00 level where a break will aim at the 1,440.00 level. A turn above there will expose the 1,450.00 level. Further out, resistance stands at the 1,460.00 level. All in all, GOLD looks to weaken further on corrective pullbacks
Comments
TradingShot
Interesting dynamics on this one.
FxCanli
Nice Analysis, I leave like to your chart, leave us a like aswell please :)
Samthecarpetman
Why is your chart about TRX while your content is about gold! Are you ok!?’
Bullandbeartrading
Thats a very good idea, @FXTechstrategy
DACapitalTrading
Good Trade, keep it up and leave us a like aswell mate :)
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