Gold surged further yesterday. The price was basically bounded by the 1850-57 range early in the Asian and European. It crossed the key resistance 1868(1) late in the US session. It reached a new high near1873 with the day ending at 1873, up by USD 12.
Gold has kept its momentum upward since it broke the 1843 resistance last Friday. The gold market should stay bullish. The range should maintain within 1868-80(3) in early sessions, if it breaks 1880, the upside target can be set at 1900.
Gold has cleared the resistance at 1896(6) yesterday on the daily chart, and the price is now tingling in the resistance zone(4) from the previous peak. As long as the price is able to stay above 1868 today, the triangle pattern mentioned yesterday will be breached. The upside target will be at 1890(5) to the upside.
S-T Resistances:
1900
1890
1880
Market Price: 1878
S-T Supports:
1870-68
1865
1860
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Gold has kept its momentum upward since it broke the 1843 resistance last Friday. The gold market should stay bullish. The range should maintain within 1868-80(3) in early sessions, if it breaks 1880, the upside target can be set at 1900.
Gold has cleared the resistance at 1896(6) yesterday on the daily chart, and the price is now tingling in the resistance zone(4) from the previous peak. As long as the price is able to stay above 1868 today, the triangle pattern mentioned yesterday will be breached. The upside target will be at 1890(5) to the upside.
S-T Resistances:
1900
1890
1880
Market Price: 1878
S-T Supports:
1870-68
1865
1860
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
P. To
