GOLD
Gold is lower in early dealings today and hit a fresh two-week low overnight, amid a stronger U.S. dollar this morning. Prices are in a five-week-old downtrend on the daily bar chart. For August gold, shorter-term technical resistance is seen at $925.00 and then at $930.00. Buy stops likely reside just above those levels. Sell stops likely reside just below support at the overnight low of $920.50 and then at the June low of $913.20. Today’s key near-term Fibonacci support/resistance level: $930.00.
Categorised as: Gold News