GOLD : The yellow metal has breached the key congestion area at 1620.45 to 1635.70. We can now test 1664.47, which is the major trend line from the peak on August 23 2011. Should we see a strong break and daily close above that latter level ten our model would change significantly and we could test 1680.00 next. Alternatively, we see support at the former resistance cluster area of 1620.45 to 1635.70.
Please feel free to ask any questions or leave comments. As always we will answer as fast as possible. Have a good trading day.
DISCLOSURE & DISCLAIMER: THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER.
Ava Capital Markets Ltd (“AVAFX”) is regulated by the Central Bank of Ireland
Please feel free to ask any questions or leave comments. As always we will answer as fast as possible. Have a good trading day.
DISCLOSURE & DISCLAIMER: THE ABOVE IS FOR INFORMATIONAL PURPOSES ONLY AND NOT TO BE CONSTRUED AS SPECIFIC TRADING ADVICE. RESPONSIBILITY FOR TRADE DECISIONS IS SOLELY WITH THE READER.
Ava Capital Markets Ltd (“AVAFX”) is regulated by the Central Bank of Ireland