GOLD, technical long term view

mario-urlic-forex-gold-27-09

The precious metal has stuck after Brexit in between 1300 and 1375 for two months, with formed descending triangle and down trend line as strong resistance on the way up and with 1300/10 as a strong support on the way down. Possible break on the way up could be short term successful, as we have strong resistance at 1352/57, but it would be a first step to reach the resistance at 1365/75 once again. If that level could be broken, that would be the sign of possible furder gain toward 1400 and with 1365/75 as a possible stronger support latter on. On the way down, only break bellow the support at 1300>1290 could lead toward 1250 and daily MA200. Gold is neutral for now if you take a look on this chart and it’s possible to continue to move on true this channel 1300/1375 in the next two months as well. In the last couple of days, it’s steady at 1335 with no intention to move somewere. How do you see this?

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3 comments

  • hey “SNIPER”
    i think their is some mistake where you mention “as we have strong resistance at 1252/57” i think so you mean 1352/57………..

    Liked by 1 person

    • Yes, thanks.

      Like

  • Možda potegne malo prema 1375 i onda nazad prema 1300 u prosincu kad i ako FED digne kamatu. Ako ne digne možda ode prema 1400?

    Like

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