Gold Weekly Technical Outlook
Gold’s rebound from 1155.6 extended further last week and the break of 1203.9 resistance indicates that a short term bottom is formed. initial bias is mildly on the upside this week for 61.8% retracement of 1266.5 to 1155.6 at 1224.1. But strong resistance should be seen above there and below 1266.5 high to bring another all. On the downside, below 1192 minor support will flip intraday bias back to the downside for 1155.6 and below.
Tags: downside, gold, initial bias, rebound, resistance, retracement
Posted in Commodities
