Gold’s Demise Continues in Asian Trade

Posted Thursday, August 16, 2018 by
Rowan Crosby • 1 min read

Gold has opened down again in Asian trade. It has been one of the worst performers in recent times and so far it is down a further 0.5% to get things moving early on.

Just having a quick look at the daily chart we can identify a few quick downside targets that we might be seeing some support.

 

1171 – where we currently are should give some buying interest.

1146 – minor support

1127 – MAJOR swing low

 

I’m looking for a move to 1127 as that is the swing low and I feel that price will be sucked to this level.

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About the author

Rowan Crosby is our Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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