Gold is currently testing previous highs from July of 2014. This week just closed above that trend line which has been holding price for almost a year. If we can get a break of this resistance zone we may see a possible swing long to the next resistance zone which aligns with the 127 fib. extension (green line under the top blue box --- 1374.00 area).
Keep in...
Price is currently pulled back to the 38.2 fib retracement level of the overall bullish move. Price is also sitting at a support zone (blue box) and recently broke through an accelerated trend line. We may look for a slight bounce off this zone and retest the broken trend line. This pull back would line up with a 38.2% retracement of the most recent bearish...
Weekly channel. price is currently rejecting at a strong resistance zone. trend line on momentum indicator ( for shorting opportunities momentum indicator may break trend line and retest confirming our short idea).
daily shows a base trend line & an accelerated trend line. price was rejected at the resistance zone and broke & closed below the accelerated trend...
