TradingView
Technician
Feb 11, 2014 12:04 PM

Gold: Breakout Very Close 

Gold/U.S. DollarFXCM

Description

Gold has taken 1270.00 reistsance, by re-assesing the weekly and daily chart I look for:
A Weekly closing above 1270 is necessary to confirm a possible leg higher OR a multi-day closing above the new upward slopping neckline for the inverted head and shoulders. That would open the door for further potential gains over the coming weeks. Upside targets start at 1360.

Please follow me @ twitter.com/FxInstinct
Comments
Technician


Breakout , lets see how things evolve now
thatguy
1320 seems to be slowing down gold a little. It does coincide with the April smackdown lows. But IMHO it looks weak, any thoughts?
angela
I think it occurs at 1290
angela
I am wainting the breakout. Wish you all many pips :)
thatguy
Was the yellen taper pullback a retest of the NL?
Technician
not really for me, as we haven't witnessed a real breakout yet, pullbacks usually follow breakouts. There is no breakout yet
NizarRahalii
great job Mr hawkeye :)
Technician
haha, thanks for mr new great contributor
Technician
Please follow me @ twitter.com/FxInstinct
thatguy
Done... appreciate your work... any chance you could have a squiz @ PALL?
More