Morning Gold Market’s
Gold was lower overnight and breaking out to the downside of last week’s trading range. If August extends the overnight decline, the reaction low crossing at 917.00 is the next downside target. Closes above the 20-day moving average crossing at 954.20 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 940.40. Second resistance is the 20-day moving average crossing at 954.20. First support is the overnight low crossing at 920.70. Second support is the reaction low crossing at 917.00.
Categorised as: Gold News