Gold Weekly Technical Outlook |
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Comex Gold (GC) Gold's correction from 1007.7 continued last week and extended further to as low as 927. From a short term angle, further decline could still be seen as long as 979.7 resistance holds. But after all, downside is expected to be contained by 892 support and bring rally resumption. Above 979.7 will flip bias back to the upside for retesting 1007.7. Break will confirm up trend resumption for 1033.9 high next. In the bigger picture, as discussed before, consolidation from 1033.9 has
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