FX.co ★ Gold At Resistance Levels Again. Expect Reaction Here

Technical Outlook and Chart Setups:

It cannot get better than this. Prices are again testing resistance levels at 1780/85. A bearish reaction is expected here with minimum downside expectations near 1750/60. On the other hand, a clear break above 1780/85 levels will turn focus towards 1850.00 and above. Looking into Daily charts at the moment, prices are trading into overbought territory and hence downside possibility remains higher. A break of the support trend line will bring prices to 1700/1650 levels. At the moment keep trading simple: "Sell Resistance and Buy Support."

Trade Recommendations:

Buy Support around 1750/60 levels and Sell Resistance around 1780/85. Trade Breakouts accordingly.

Good Luck!