Gold is in an uptrend as long as the support at 1255 (16/01/2015 low) holds. An hourly support lies at 1272 (19/01/2015 low). The resistance area between 1297 (28/08/2014 high) and the psychological threshold at 1300 continues to be challenged. Another key resistance is given by the declining channel (around 1328). • In the long-term, the break of strong resistance at 1255 (21/10/2014 high) indicates an improving technical structure. However, the shape of this advance still looks like a countertrend move within an underlying downtrend (see also the declining channel). Another key resistance stands at 1345 (10/07/2014 high).
Posted on: Tue, 27 Jan 2015 12:20:13 +0000
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