Bullish pause.
• Gold has broken the key resistance area
1263. This validates a bullish reversal pattern
with an upside potential at 1337. The hourly
support at 1263 (previous resistance) has
induced some buying interest. Another hourly
support lies at 1260 (rising trendline). An hourly
resistance can now be found at 1280 (intraday
high).
• In the long-term, the technical structure
suggests that there is a growing upside
momentum. A break of 1392 (17/03/2014) is
necessary ton confirm it, A major support can be
found at 1045 (05/02/2010 low).
(By Peter Rosenstreich )
