We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Gold Price Pressing Former Support Zone

03 Nov 2016 21:32, GMT
Jamie Saettele, CMT, Sr. Technical Strategist

Share:

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Gold is testing an important region. Simply, 1302/11 is the recent support zone so this rally could be viewed as a re-test of the breakdown level. The May high is 1303.60, which increases the importance of the current juncture. The 200 day average and 10/5 high are marked as support at 1277. The big development in gold would be a break through the 2011-2012 trendline, which was resistance from June to September.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

Related Articles:

FTSE 100 on Track for yet Another Record High while Dow and S&P 500 Recover 03 May 2024 10:00, GMT
Dax Moves Higher, Nasdaq 100 quiet, while Hang Seng Roars to New 2024 high 02 May 2024 10:00, GMT
FTSE 100 Bucks the Trend and Remains Bid amid Jittery Dow and S&P 500 ahead of FOMC​​​ 01 May 2024 12:00, GMT
Dow and Nasdaq 100 rise but Nikkei 225 hits a speed bump 30 Apr 2024 12:00, GMT
STOP!

From December 19th, 2022, this website is no longer intended for residents of the United States.

Content on this site is not a solicitation to trade or open an account with any US-based brokerage or trading firm

By selecting the box below, you are confirming that you are not a resident of the United States.