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Gold Nears Resistance Between 1150.00 And 1152.00

Published 10/07/2015, 05:04 AM
Updated 07/09/2023, 06:31 AM
GC
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We should be patient as gold trades near the minor resistance inside the triangle pattern between 1150.00 and 1152.00, noting that technical indicators remain positive.

Gold 4-Hour Chart

However, we will be on the sidelines until the metal affirms breaching the resistance and will update n proper time. A break below 1130.00 will negate the bullishness and will bring the bearishness back into focus.

  • Support: 1142.00 – 1134.00 – 1130.00
  • Resistance: 1151.00 – 1154.00 – 1162.00
  • Direction: Bullish above 1154.00 and bearish below 1130.00

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