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090517 GOLD

by | May 9, 2017 | GOLD | 0 comments

GCMAsia - GOLD
GOLD_
GOLD_
2017-05-09
Resistance and Support Level Explanation
Resistance 1231.40 H1
Support 1226.00 H1

GOLD_, H1: Gold price remains traded within the sideways channel while currently testing at the bottom level of the channel. A breakout from this level will signal a change in trend direction to move further downwards thereafter. Otherwise, a rebound from this level would suggest gold price to be traded higher in short-term within the sideways channel.

 

Resistance level: 1231.40, 1235.00, 1239.30

Support level: 1226.00, 1221.80