{"id":48568,"date":"2014-03-16T15:01:13","date_gmt":"2014-03-16T19:01:13","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=48568"},"modified":"2014-03-16T15:01:13","modified_gmt":"2014-03-16T19:01:13","slug":"gold-bullish-correction-expected","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2014\/03\/16\/gold-bullish-correction-expected\/","title":{"rendered":"GOLD: Bullish But Correction Expected."},"content":{"rendered":"

GOLD: With GOLD rallying through the 1,354.00 and the 1,361.00 levels to close higher the past week, more strength is expected. However, with a five-day strength already seen, we expect the commodity to pullback on correction or digest gains its rally. If this occurs, expect it to weaken towards the 1,367\/1 levels. Further down, support comes in at the 1,354.63 level where a violation will aim at the 1,331.17 level. A break will target the 1,319.20 level. Below here will aim at the 1,300.00 level where bulls may come in. On the upside, if GOLD follows through higher, we could see further strength towards its big psycho level at the 1,400.00 level, its psycho level. A break will trigger further upside pressure towards the 1,450.00 level, its psycho level and possibly higher targeting the 1,480.00 level. All in all, GOLD remains biased to the upside in the medium term but looks to pullback on correction.<\/p>\n

Article by www.fxtechstrategy.com\/commodity-technical-outlook-gold-new-38<\/a><\/p>\n

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GOLD: With GOLD rallying through the 1,354.00 and the 1,361.00 levels to close higher the past week, more strength is expected. However, with a five-day strength already seen, we expect the commodity to pullback on correction or digest gains its rally. If this occurs, expect it to weaken towards the 1,367\/1 levels. Further down, support … <\/p>\n

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