(12 JUNE 2017)GOLD (in USD):Trading lower within uptrend channel

(12 JUNE 2017)GOLD (in USD):Trading lower within uptrend channel

12 June 2017, 14:38
Jiming Huang
0
30

gold

Trading lower within uptrend channel.

• Gold is consolidating 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 renewed 

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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