Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

GOLD:Eyes Further Bull Pressure

Summary

GOLD:Eyes Further Bull Pressure GOLD: The commodity reversed its Wednesday gain on Thursday. On the downside, support comes in at the 1,340.00 level where a break will turn attention to.

GOLD: The commodity reversed its Wednesday gain on Thursday. On the downside, support comes in at the 1,340.00 level where a break will turn attention to the 1,330.00 level. Further down, a cut through here will open the door for a move lower towards the 1,320.00 level. Below here if seen could trigger further downside pressure targeting the 1,310.00 level. Conversely, resistance resides at the 1,350.00 level where a break will aim at the 1,360.00 level. A turn above there will expose the 1,370.00 level. Further out, resistance stands at the 1,380.00 level. All in all, GOLD looks to strengthen further higher but with caution.