Gold’s repeated failure to breach 100-DMA support earlier this week followed by a sharp rise on Wednesday and a day end close back above 100-DMA suggests the metal has switched gears and is heading towards flag resistance of $1353/Oz.
A daily close above $1353 would mean a larger uptrend from the December low of $1047 has resumed.
A daily close above $1353 would mean a larger uptrend from the December low of $1047 has resumed.
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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.