Oct 17 2017

Technical View – Gold (XAUUSD)

Weakness below $1287 level could get extended towards $1284 horizontal support, below which the commodity could drop back below $1280 level and head towards retesting 100-day SMA support near the $1276-75 region.

On the upside, $1293 level now becomes immediate hurdle and is followed by a strong resistance near the $1300 handle. A convincing move back above the mentioned barriers might now lift the metal towards $1308-10 strong resistance.