Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Gold: Bull Pressure Sets Up For The 1170.03 Level

Published 09/27/2015, 04:16 PM
Updated 07/09/2023, 06:32 AM

Gold: Having followed through higher on the back its previous week gains, further move higher is likely in the new week. This development if triggered leaves its key resistance at 1170.03 exposed. On the downside, support comes in at the 1140.00 level where a break will aim at the 1125.00 level. A cut through here will open the door for move lower towards the 1115.00 level. Below here if seen could trigger further downside pressure towards the 1100.00 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, resistance resides at the 1165.00 level where a break will aim at the 1180.000 followed by the 1190.00 level. A violation of here will turn attention to the 1200.00 level. All in all, Gold remains biased to the upside in the short term

XAU/USD Weekly Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.