TECHNICAL ANALYSIS BY NSFX 21.01.2016
Gold reached the 1110 resistance level during yesterday’s session with the RSI indicator in oversold territory on the one hour chart. The subsequent selling interest pushed prices back below the 1100 level briefly and we now see prices edge back above that interesting psychological level. Support expected towards 1095 and then 1085 should bullish interest resume. Bullish traders expecting a break above 1110 could have targets around the 1130 area.