The ounce troy of the precious metal needs to overcome $1,236 in order to alleviate the persistent downside pressure, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “Spot gold has sold off aggressively and has seen a slight erosion of the long term uptrend at 1214.90, which has not been maintained and no close below here has been seen”. “We have a short term down channel at 1236 and this will need to be overcome to alleviate immediate downside pressure. To negate it rallies will need to regain the 1274.30 downtrend and preferably the 1300 200 day ma. For now we favour recover”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NEO price analysis: NEO/USD edging higher following the double-top pattern FX Street 5 years The ounce troy of the precious metal needs to overcome $1,236 in order to alleviate the persistent downside pressure, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "Spot gold has sold off aggressively and has seen a slight erosion of the long term uptrend at 1214.90, which has not been maintained and no close below here has been seen". "We have a short term down channel at 1236 and this will need to be overcome to alleviate immediate downside pressure. To negate it rallies will need to regain the 1274.30 downtrend and preferably the 1300 200… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
