Oksana Koneva

Gold falls below key support at 4000, James Stanley notes

Gold falls below key support at 4000, James Stanley notes
Gold breaks lower with resistance at 4100

James Stanley, senior strategist at DailyFX, highlights a descending triangle break in Gold, identifying the 4100 zone as new resistance.

He adds that price action becomes uncertain near the 4000 level, given the extended support test seen a couple of months ago.

Earlier, Stanley analyzed Gold holding near its neckline, pointing to bullish control and a key technical formation in play in a previous report. He has also monitored currency markets, commenting on the reduction in USDJPY selling as traders watched upcoming central bank decisions in an earlier article. His latest comments on Gold follow several months of coverage on shifting technical signals.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.