Gold: Holding Below 1st Resistance At 1325/26
Jason Sen | Sep 29, 2016 01:52AM ET
Gold holding below first resistance at 1325/26 risks a slide to strong support at 1316/15, but be aware of further important 100 day moving average support at 1310/09. Within this band is a good buying opportunity. Just be aware that a break lower targets important longer term support at 1300/1298.
A break above 1327 allows a recovery to 1330/1332, perhaps as far as resistance at 1336/35. Just be aware that further gains target 1342/43 before important trend line resistance at 1346/47. This is the most important resistance of the week.
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