Look for first support around $1,127, if this level is breached the possible scenarios are not positive for Gold. First resistance is $1,139.
Chart: H1 XAUUSD
Tuesday, November 3, 2015
Gold Posts New Losses
Today the precious metal kept the direction from the last week posting new losses. Gold went as low as $1,131 and is close to the strong support around $1,125-$1,130. It is possible that we will witness an attempt to break the support line but unless we close below $1,120 the support is still in play and a possible upward move could be expected.
Look for first support around $1,127, if this level is breached the possible scenarios are not positive for Gold. First resistance is $1,139.
Chart: H1 XAUUSD
Look for first support around $1,127, if this level is breached the possible scenarios are not positive for Gold. First resistance is $1,139.
Chart: H1 XAUUSD
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It looks decline is the word!
ReplyDeleteGold is likely headed for 1104.
ReplyDeleteBearish sentiment prevail in perspective.
ReplyDeleteGold seems unstoppable to the downside.
ReplyDeleteNow resistance level lies around 1120.
ReplyDeleteGreat analysis, thank you.
ReplyDeleteVery good analysis.
ReplyDelete