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Gold - Riding Uptrend Channel

Gold recovery is definitely on and limited correction suggests extension of bullish momentum. Hourly resistance given at 1221 (22/11/2017 high) is approaching. Hourly support lies at 1171 (intraday low). Strong support is located at 1122 (15/12/2016 low ).

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).

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