HomeContributorsTechnical AnalysisGOLD Fading Near The Key Resistance At 1255

GOLD Fading Near The Key Resistance At 1255

Gold’s rally was halted by downtrend resistance. at 1308. Hourly support and resistance are given at 1263 (21/12/2017 low) and 1329 (08/03/2018 high). The technical structure suggests short-term downward moves.

In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1’392 (17/03/2014) is required to confirm it. A major support can be found at 1’045 (05/02/2010 low). The pair is trading below its 200 DMA.

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