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FxWirePro: Gold faces strong resistance around $1100, good to sell on rallies

Gold has recovered from the low of $1046 and is currently trading around $1069. Short trend is still weak as long as resistance $1100 holds. Any break above $1100 will take the commodity till $1120/$ bearish invalidation…

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FxWirePro: Gold faces strong resistance around $1100, good to sell on rallies
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  • Gold has recovered from the low of $1046 and is currently trading around $1069. Short trend is still weak as long as resistance $1100 holds.
     
  • Any break above $1100 will take the commodity till $1120/$ bearish invalidation only above $1150 level. The minor resistance is around $1085.
     
  • On the downside minor support is at $1060 and break below targets $1040/$1026.

It is good to sell on rallies around $1075-80 with SL around $1100 for the TP of $1045/$1026

 

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