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Gold Technical Analysis

The $1242.7 level remains key with bulls needing a close above to confirm an easing of bearish pressure.

With the contract having looked uncomfortable below $90.50 the result has been a bounce that saw a close

The sell-off that dominated for the majority of this week came to an end Thursday with

The pair driving higher in the wake of a weaker day across the board for the USD,

The $1242.7 level remains key resistance with bulls needing a close above to

Once again X14 has baulked at a close below the $90.50 level with bears looking for

After failing to capitalize on last week’s gains the sell-off for Stoxx50 accelerated Tuesday with

The $1242.7 level remains key resistance this week with bulls needing a close above to

The sequence of lower daily highs reflects the current bearish pressure with

Stoxx50 failed to capitalize on Fridays gains with it dipping a little to start the new week.

$1242.7 remains key resistance with bulls needing a close above to confirm an easing of bearish pressure.

Time spent above the 21-DMA was brief for X14 with the close below Thursday