Looking at a longer term Gold pattern we see Gold has broken through the descending triangle started in 2013. It then rallied up to Kumo & 23.6% Fib Resistance before pulling back. In the short run Williamson21MA and CCI is looking a bit exhausted however there are significant Bullish tendencies in both Willy, RSI and PPO readings.
Therefore I think a minor retracement, potentially as low as $1200 before we see another attempt (and probable success) at $1300 resistance. I'd be guessing the $1300 level will be broken by Q2 2015.
Therefore I think a minor retracement, potentially as low as $1200 before we see another attempt (and probable success) at $1300 resistance. I'd be guessing the $1300 level will be broken by Q2 2015.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.