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Gold - Bullish Bounce

Gold has broken the resistance at 1244 confirming an underlying bullish momentum. Support is given at 1244 (30/03/2016 high) then 1208 (28/03/2016). Resistance is given at 1260 (22/03/2016 high). A break of support at 1182 (08/02/2016 low) is necessary to confirm a reversal in bullish trend.

In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low).

Daily Technical Report

 

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