Sun, Dec 04, 2022 @ 08:33 GMT
HomeContributorsTechnical AnalysisGOLD Facing Tough Resistance

GOLD Facing Tough Resistance

The yellow metal continues to move in range between the 23.6% and the 50% retracement levels, is trading at the half of this sideways movement. Is pressuring the outside sliding parallel line (SL), a valid breakout above this line will confirm a larger increase.

Technically should climb much higher on the Daily chart after the breakout above the upper median line (UML) of the major descending pitchfork and outside the minor descending pitchfork’s body. We may have a buying opportunity if will stabilize above the SL and if will come down to retest the warning line (WL1).

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

Featured Analysis

Learn Forex Trading