Thursday, October 15, 2026

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FxWirePro: Gold faces strong resistance around $1180, good to sell on rallies

Gold has made a high of $1179 and retreated from that level. Overall trend is still weak as long as resistance $1180 holds. Any break above $1180 will take the commodity to next level $1190/$1195. On the downside major t…

By Lis Howell
1 min read
FxWirePro: Gold faces strong resistance around $1180, good to sell on rallies
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Gold has made a high of $1179 and retreated from that level. Overall trend is still weak as long as resistance $1180 holds.

  • Any break above $1180 will take the commodity to next level $1190/$1195.
     
  • On the downside major trend line support is around $1156 and break below targets $1141/$1135 in short term.
     
  • Overall bearish invalidation only above $1190.

It is good to sell on rallies around $1167-70 with SL around $1180 for the TP of $1141/%1136        

 

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