Gold’s technical rebound from its long-term support @ $1.183 has led price to the $1.240 region. The daily trend remains up as long as price is higher than $1234. However, there is significant resistance @ $1.250 (last week high), $1.265 and $1.280. I expect price to move down from current levels.
Gold, 5-hour chart:
Chart courtesy of Investing.com (www.investing.com)
Please read the Disclaimer!
RECEIVE MY TREND TRADING REPORT FREE OF CHARGE, TWICE A DAY, FOR 2 WEEKS BY SENDING ME AN E-MAIL AT: THETRADINGSTRATEGIST@YAHOO.COM !!!