GCMAsia - GOLD
GOLD_
2017-04-04
| Resistance and Support | Level | Explanation |
| Resistance | 1256.30 | H1 |
| Support | 1252.70 | H1 |
GOLD_, H1: Previously, gold price broke out from the top level of downward channel, signifying a change in trend direction to move further upwards. However, recent retracement from previous high of 1256.30 suggests gold price to experience brief technical correction and may be traded lower in the short-term. Otherwise, the upward expansion of both MA line after the formation of golden cross suggests gold price to extend its uptrend.
Resistance level: 1256.30, 1259.00
Support level: 1252.70, 1250.20