Gold with the trading down to the $1,268 support level yesterday.
And yet the Fed minutes released tomorrow believe that will not show a different perspective than that came out from the lips of Janet Yellen, had creates enough of a “what if” to hold the market.
Technically, February gold futures is in the Bear side. While it believe that the gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance which at the November high of $1,327.40. While Bears' next near-term downside breakout price objective is closing prices below the solid technical support at the October low of $1,254.00.
First resistance is seen to be at $1,280.00 and then at Monday’s high of $1,289.60. First support is seen at the overnight low of $1,268.80 and then at last week’s low of $1,261.80.
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