Gold – Bullish case strengthens ahead of Fed
Resistance – $1253, 1263, $1275
Support – $1238, $1227, $1221
Gold’s repeated rebound from $1227 (23.6% of Dec low-Mar high) followed by a move back above 50-DMA yesterday has left the doors open for a rise to $1253-1263 levels.
On the lower side, $1227 remains a strong support, which needs to be breached if bears have to have say in determining prices.
Daily close above $1274 today would be bullish break from flag pattern.
Support – $1238, $1227, $1221
Gold’s repeated rebound from $1227 (23.6% of Dec low-Mar high) followed by a move back above 50-DMA yesterday has left the doors open for a rise to $1253-1263 levels.
On the lower side, $1227 remains a strong support, which needs to be breached if bears have to have say in determining prices.
Daily close above $1274 today would be bullish break from flag pattern.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.