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Gold Price Fails To Achieve Breakthrough

Published 06/28/2016, 05:04 AM
Updated 07/09/2023, 06:31 AM

Gold price fell during the Asian session today, after failing to achieve a breakthrough above 1332.00 resistance and stability above it yesterday. In addition, signs of weakness on both RSI and ADX indicator appeared.

Gold Daily Chart

Weak signals that appeared on the technical indicators makes us prefer staying aside today, where trading below 1332.00 and 1303.00 will be considered unclear trends. However, we must point out that breaching 1332.00 and stability above it will bring back the positivity once again.

  • Support:1303.00 – 1291.00 – 1280.00
  • Resistance: 1332.00 – 1368.00 – 1407.00

Direction: Neutral, but bullish above 1332.00.

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