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250517 GOLD

by | May 25, 2017 | GOLD | 0 comments

GCMAsia - GOLD
GOLD_
GOLD_
2017-05-25
Resistance and Support Level Explanation
Resistance 1263.00 H4
Support 1253.80 H4

GOLD_, H4: Gold price remains traded within an ascending triangle following prior rebound from the bottom level of the triangle. Recent closure above the 20-moving average line (red) suggests gold price to advance further up in short-term, towards the resistance level of 1263.00. Long-term trend direction can only be determined following a successful breakout from either side of the triangle.

 

Resistance level: 1263.00, 1271.00

Support level: 1253.80, 1246.00