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Gold: Tests Important Resistance At 1260/61

Published 07/27/2017, 09:29 AM
Updated 07/09/2023, 06:31 AM

Gold Chart

Gold tests important resistance at 1260/61 to top so far just above 1263. Shorts need stops above 1266. A break higher however is a buy signal targeting 1272/73, and 1276/77. Above 1279 then targets 1283 and 1289 before the 1295 double top high for this year. I think this will be broken on the third test for an added buy signal.

Failure to hold above 1259 signals a rejection of the important resistance targeting 1252/51 before good support at 1247/45. Further losses target the best support for today at 1239/38. Try longs with stops below 1233.

Latest comments

Good Jason sen
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