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Spot Gold May Trade Around $1262-1300 Range

Published 07/19/2013, 07:18 AM
Updated 05/14/2017, 06:45 AM

Gold maintains the sideways stance, trading within 1300.00-1270.00 range bound after breaking the first tier minor descending resistance as shown above, however; the price faces the main descending trend line for the overall bearish wave near 1300.00 level and key resistance. Accordingly, the bias will continue to be neutral within this range bound, unless we see a break above 1300.00 below 1262.00.
Spot Gold
Support: 1285.00, 1275.00, 1268.00, 1261.00, 1242.00
Resistance: 1295.00, 1302.00, 1308.00, 1320.00, 1330.00

Recommendation Neutral

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