Gold Downtrend Still Persists With Rejection For 1240 Level
FxGrow | Jun 22, 2017 07:54AM ET
Gold showed immunity against 1240 level with a rejection for penetration during this weekly trading session. Yesterday, a positive U.S Existing Home Sales was released, yet gold rallied and extended gains today with 1254.85 high, still to be considered a correction phase after last week's sharp declines.
Today, gold's bearish momentum will be tested further more, with expectations for intense volatility as U.S releases Unemployment Claims data. Any further rejection for 1240 is an indication for further correction phase and potential of bullish momentum build up. On the other hand, if U.S data we negative, gold will receive ...
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