Gold – Re-test of Thursday’s high
Despite the retreat from the previous day’s high of $1274.60, the subsequent rebound from weekly classic R1 level of $1261 in the wake of a bullish 5-DMA and 10-DMA crossover and a bullish break from symmetrical triangle suggest prices could revisit $1274.60 and may breach the same for $1280 levels.
Only a daily close below $1253 (23.6% Fib retracement of move from 2011 high to 2015 low) would signal bullish invalidation.
Only a daily close below $1253 (23.6% Fib retracement of move from 2011 high to 2015 low) would signal bullish invalidation.
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