GCMAsia - GOLD
GOLD_
2018-03-12
| Resistance and Support | Level | Explanation |
| Resistance | 1340.00 | Daily |
| Support | 1312.00 | Daily |
GOLD_, Daily: Gold price remains traded within a descending triangle following prior retracement from the top level. Both MA lines which has formed a death cross signal suggests further bearish bias for the commodity price. Hence, it is suggested to extend its losses in short-term, towards the strong support level of 1312.00. Otherwise, long-term trend direction can only be determined following a successful breakout from either side of the triangle.
Resistance level: 1340.00, 1353.70
Support level: 1312.00, 1295.00