(17 APRIL 2017):GOLD (in USD):Bullish pause.

(17 APRIL 2017):GOLD (in USD):Bullish pause.

18 April 2017, 14:04
Jiming Huang
0
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GOLD

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 )


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