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  • GOLD - Weekly Report



    by icn.com

    Gold is consolidating back above 1305.00 support level, while below the main descending resistance for the latest bearish wave, accordingly the bias for the week remains sideways, unless price breaks below 1305.00, to 1273.00 key horizontal support, a break below 1273.00 will signal the resumption of the overall bearish trend. On the other hand, breaking the descending resistance would call for another leg higher.

    ** Short term Trend (Trends that last from two weeks to two months)
    ** Chart is based on GMT+2 timing

    Notes:
    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    *Support and Resistance levels should be treated as regions not precise numbers
    Support 1306.00 1302.00 1292.00 1283.00 1273.00
    Resistance 1314.00 1323.00 1325.00 1337.00 1344.00
    Recommendation Neutral


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