TipTVFinance

Gold – Rising trend line breached

FX:XAUUSD   Gold/U.S. Dollar
Support - $1249, $1243, $1225

Resistance - $1256.70, $1263, $1268

  • Gold’s breach of rising trend line on Wednesday following the release of hawkish Fed minutes has opened doors for a test of daily 50-SMA seen at $1249.
  • The bearish close yesterday also marked a downside break from symmetrical triangle formation, thus adding credence to bearish break from rising trend line.
  • Consequently, support at $1249 could be breached, thereby exposing $1243 (23.6% of Dec low-May high).
  • On the higher side, only a day end close above $1268 (rising trend line hurdle) would indicate bearish invalidation.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out