Gold prices could weaken in trading Monday, as U.s. Dollar turned
higher. But the lack of us economic data which is expected to be
released in the beginning of the weekend likely will still limit the
decline in Bouillon, with investor focus will also be drawn into the
debate over U.S. presidential election on Tuesday morning.
On the technical side, further decline might occur in the near future as stochastic and RSI leads down below the midline. Necessary stability under the 1330.60 area (MA-9 and MA-200) to encourage a weakening towards 1322.45 area at least in the short term. Instead, rebounding above the area 1334.75 will refund the price of gold into the reinforcement of the target area 1342.40.
Resistant: 1334.75-1338.15-1342.40
Support: 1330.60-1326.70-1322.45
Directional : Bearish.
On the technical side, further decline might occur in the near future as stochastic and RSI leads down below the midline. Necessary stability under the 1330.60 area (MA-9 and MA-200) to encourage a weakening towards 1322.45 area at least in the short term. Instead, rebounding above the area 1334.75 will refund the price of gold into the reinforcement of the target area 1342.40.
Resistant: 1334.75-1338.15-1342.40
Support: 1330.60-1326.70-1322.45
Directional : Bearish.
