11 Apr 2019

Gold Technical Analysis: Bulls perking up and look to test the trend-line resistance

A third test of the key trendline resistance ahead could be on the cards.
This level is above the 13 March highs around 1311.
a subsequent break of 1311 brings in the 78.6% Fibo of the prior swing high's (25 March) decent.
The 78.6% Fibo guards a run to 1325, the halfway mark to 1350 and as such, will be a key resistance level.
However, overbought readings could prove a weight on the precious metal's northerly trajectory.
A break below 1301, the 21-D SMA and then a subsequent run to 1280 will open prospects for a run the downside target of 1275 (38.2% Fibo retracement of the Aug 2018-Feb swing lows and highs).
Below here, the 200-DMA will come into play, (1250/50% Fibo area). Bulls need a break of 1307 and trendline resistance to attract fresh bids in pursuit of Feb highs and 1350.

Mulai sekarang, kami Elev8