FxWirePro
Short

Gold trades weaker , good to sell on rallies

FX_IDC:XAUUSD   GOLD / US DOLLAR
287 1 6
Major Support - $1327.60 (daily Kijun-Sen)

Major intraday resistance -$1342 ( Ichimoku cloud )

The yellow metal has fallen to a one-week low yesterday in the wake of first U.S president debate. Gold             declined from the high of $1339.50 after Hillary Clinton beat Donald Trump in the first US Presidential debate

In the daily chart , Gold             is facing strong resistance at $1342 ( Ichimoku cloud ). Any break above will take the yellow metal to next immediate resistance at $1349/$1352/$1357 in the short term. The minor resistance is around $1332.

The major support is around $1324 (55-day EMA) and any break below targets $1310/$1308 (100- day MA).

Short term weakness only below $1300.

It is good to sell on rallies around $1330-32 with SL around $1342 for the TP of $1315/1311
albertwt
2 months ago
Hi,
If the gold price is suppressed down or going to be lower this week, why the suggestion is to short/sell ?
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