Tuesday, 23 July 2013

Gold trying to push through after small pullback - 2013-07-23

Gold is at or just above the resistance parallel that I mentioned last night and has actuallu now passed where it was on last night's chart within the blue circle and has crossed the line to the upside. Note that this line has been in play in trading since last December. It needs to become support for the bullish case to be valid. See blue circles below.

Last night's view:

Today's view. Note that the price has broken out of the top of the small bullish pitchfork trand channel that has been in force and goes off the right hand side of the chart:

and again - the price is pulling back right to the line:

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