Technician

Gold: Short term trend at a juncture

FX:XAUUSD   Gold/U.S. Dollar
406 3 3
The completion of ABCD wave structure and double bottom pattern at 1180.00 support hinted a nice bullish recovery i mentioned in my previous post.
Now, price is testing the main and key resistance level around 1268.00, i would like to see a break above that resistance to look for more upside and post a new trade setup. A beak above the 1268 would complete an inverted head and shoulders pattern.
Roughly, targets star at 1294.00 and higher. Will be updating with more precise outlook if a breakout occurs.
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fourkey2001
2 years ago
what happens after 1294?
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Technician TOP fourkey2001
2 years ago
:), i dont have a crystal ball. But we will probably head higher.
Reply
MicroCapEquity
2 years ago
1340-1360, the miners are already priced at when gold was there around Oct 27-28, 2013.
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