GCMAsia - GOLD
GOLD_
2018-04-16
| Resistance and Support | Level | Explanation |
| Resistance | 1353.70 | Daily |
| Support | 1340.00 | Daily |
GOLD_, Daily: Gold price remains traded within a sideways channel while recently rebounded from the 20-MA line (red). Such price action suggests short-term bullish bias for the commodity price to extend its gains, towards the direction of resistance level at 1353.70. However, long-term trend direction could only be determined after a successful breakout from either side of the channel.
Resistance level: 1353.70, 1366.00
Support level: 1340.00, 1325.00