Gold – Re-test of channel resistance likely

FX:XAUUSD   Gold Spot / U.S. Dollar
Resistance - $1320.67, $1328, $1335.53

Support - $1310, $1303, $1297.52

Daily chart pattern – Expanding channel formation

  • Gold’s recovery from the yesterday’s low of $1310.10 if followed by a break above 5-DMA of $1318 could be an indication of the rally towards channel resistance at $1328 levels.
  • A day end closing above the same would signal a continuation of the rise from Dec lows.
  • On the other hand, failure to take out 5-DMA followed by a break below $1310 would expose support at $1297.52 (38.2% of May low-June high).
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out