GOLD: Eyes Further Recovery Higher.

GOLD: With the commodity closing on a rejection candle the past week, we look for price correction in the new week. On the upside, resistance is seen at the 1,318.30 level where a violation will aim at the 1,331 level. Above here if seen will trigger further gains towards the 1,359.00 level followed by the 1,380.00 level. Further out, resistance comes in at the 1,400.00 level. Its weekly RSI has turned higher supporting this view. Conversely, support comes in at the 1,277.58 level with a turn below here targeting the 1,250.00 level followed by the 1,230.00 level. All in all, GOLD remains biased to the upside in the short term

GET THE FULL ANALYSIS WITH 4-15 TRADE ALERTS DAILY

UNPARALLELED ANALYSIS covering EURUSD, GBPUSD, USDJPY, AUDUSD, EURJPY, EURGBP, USDCAD, USDCHF, GBPJPY, EURCHF and 5 Commodities Daily.GET YOUR ANALYSIS & TRADE ALERTS