GOLD TECHNICAL ANALYSIS

GOLD TECHNICAL ANALYSIS

9 August 2014, 12:21
Rachael Taylor
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Prices launched higher as expected after putting in a bullish Piercing Line candlestick pattern. Resistance is now at 1320.12, the 38.2% Fibonacci expansion. A break above that on a daily closing basis exposes the 50% level at 1332.49. Alternatively, a reversal below the 23.6% Fib at 1304.81 clears the way for a test of the 14.6% expansion at 1295.37.


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