(05 JUNE 2017)GOLD (in USD):Bullish momentum is fading.

(05 JUNE 2017)GOLD (in USD):Bullish momentum is fading.

5 June 2017, 13:56
Jiming Huang
0
22

gold

Bullish momentum is fading.

• Gold is pushing higher within uptrend channel. 

Hourly support is located at 1246 (18/05/2017 

low). Stronger support is given at 1195 

(10/03/2017 low). Expected to show further 

upside pressures. 

• 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 Yann Quelenn)

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