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- Gold to face stubborn resistance at the $1800/34 zone – Credit Suisse
Gold to face stubborn resistance at the $1800/34 zone – Credit Suisse
FXStreet reports that according to strategists at Credit Suisse, the yellow metal recovery is expected to be capped at a cluster of resistances at $1800/1834,
“Strength though now faces a test of a cluster of resistances including its 55 and 200-day averages and July and August highs at $1800/1834 and we expect this to cap the rebound and for the risk to lower again in the broader range. Only below $1671 though would mark a major top to mark an important change of trend lower. We would then see support at $1620/15 initially, then $1565/60.”
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