Support - $1344, $1335, $1328
Pattern – break from expanding channel
- Gold’s break from expanding channel formation on Friday has left the doors wide open for the continuation of the rising trend from December low and a possible test of Leg D of seen at $1378 levels.
- However, prices failed to cut through $1358 (June 24 high) and retreated to $1350. The daily is still away from the overbought region which means another attempt at $1358 could be made.
- A break above the same would expose $1370-1378 levels.