Gold / US Dollar, Daily Chart Analysis October 27
Technical Analysis and Outlook
Gold held a significant level of $1,500 price, which is a bullish setting, following completion of the Outer Gold Dip $1,460 and validating with Key Sup of $1,473 (BARC), while staying above Maginot Line $1,475 since October 1.
Ahead now is Mean Res $1,533. A breach of that would validate a breakout and leave the door open for the Gold to trend higher to Key Res $1,550 and retest of completed Inner Gold Rally $1,555, then launching significant move to Outer Gold Rally $1,590.
Gold held a significant level of $1,500 price, which is a bullish setting, following completion of the Outer Gold Dip $1,460 and validating with Key Sup of $1,473 (BARC), while staying above Maginot Line $1,475 since October 1.
Ahead now is Mean Res $1,533. A breach of that would validate a breakout and leave the door open for the Gold to trend higher to Key Res $1,550 and retest of completed Inner Gold Rally $1,555, then launching significant move to Outer Gold Rally $1,590.