January 15, 2018

GOLD Nearing Resistance zone

  • Two gold charts of Weekly time frame shows price nearing crucial resistance zone. Second chart shows the resistance line drawn from Middle of Year 2013. Since its a long term pattern a breakout or breakdown from this will be significant for Gold. Price is nearing the apex of the pattern. If the resistance line stops the up move then price is likely to remain in this pattern for some more months Before a breakout or breakdown can happen. Resistance zone is around 1360 levels.