Home Gold technical analysis: Rejected at fresh long-term resistance

Gold technical analysis: Rejected at fresh long-term resistance

Published date: 11 Jun. 2019 | 00:42

Technically, gold shied away from the recently posted fresh long term decending resistance highs.
Bears look to 1325, 1311 and 1303/06 to open 1297 as a is likely to be a line in the sand.
1297 is the 50% Fibo retracement of the late April and early May double-bottom swing lows to recent spike high.
The 55-week ma sits at around 1260s and the 200-week ma comes in at 1250s.
On the upside, 1357.66 is the 2014-2019 resistance line.

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