Friday, 14 April 2017

$1145 target still in play despite bullish move in gold.

In my previous gold analysis, I proposed bullish and bearish targets:

Bearish potential target: $1145 at bottom line of blue pitchfork.
Bullish potential target: $1250 to resistance at bottom line of black pitchfork.

After hitting resistance at $1250 it looked possible that gold would resume its way down towards $1145. However gold has now popped above $250 and also above the $1264 resistance shown on the second chart to land near $1280, inside the black fork (3rd chart).

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