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010617 GOLD

by | Jun 1, 2017 | GOLD | 0 comments

GCMAsia - GOLD
GOLD_
GOLD_
2017-06-01
Resistance and Support Level Explanation
Resistance 1271.00 H4
Support 1261.40 H4

GOLD_, H4: Gold price was traded higher following prior rebound from the 60-moving average line (green). Recent closure above the 20-moving average line (red) suggests gold price to move further upwards towards the target of resistance level at 1271.00. A breakout from the top level of upward channel would signal a change in trend direction to move further up thereafter.

 

Resistance level: 1271.00, 1278.20

Support level: 1261.40, 1253.80, 1246.00