Analysts at Commerzbank, point out that gold is viewed forming a major base longer term. They warn about the key resistance at 1365.36/1375.53, signaling that a break higher could lead to rally to 1700. Key Quotes: “A weekly close above 1375.53 2016 high (and ideally above the 1392.56 2014 peak) should trigger a move eventually to just over 1700.00.” “Gold is underpinned by the 1148.32 55 quarter moving average.” “Initial upside targets are the 1522.48/1526.98 December 2011 and May 2012 lows.” “Immediate upside pressure will be maintained while trading above the 1276.60/56 January lows.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next DXY: Dollar forecast to drop 1% vs G10 over 0-3M – CitiBank FX Street 4 years Analysts at Commerzbank, point out that gold is viewed forming a major base longer term. They warn about the key resistance at 1365.36/1375.53, signaling that a break higher could lead to rally to 1700. Key Quotes: "A weekly close above 1375.53 2016 high (and ideally above the 1392.56 2014 peak) should trigger a move eventually to just over 1700.00." "Gold is underpinned by the 1148.32 55 quarter moving average." "Initial upside targets are the 1522.48/1526.98 December 2011 and May 2012 lows." "Immediate upside pressure will be maintained while trading above the 1276.60/56 January lows." Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
