Gold teases a bullish breakout with a move to near two-month highs. Major resistance is now located above $1,960, according to the daily chart. Gold is trading at $1,915 per ounce at press time. That’s the highest level in nearly two months. The daily chart shows the metal is breaking out of a five-month falling channel represented by trendlines connecting Aug. 7 and Nov. 9 highs and Sept. 24 and Nov. 30 lows. A daily close above $1,904 would confirm the bullish breakout and open the doors for $1,965 (Nov. 9 high). The 14-day Relative Strength Index (RSI) has already breached resistance at 62.00 in favor of the bulls. The bias would turn bearish if the higher low of $1,857 created on Dec. 23 is breached. Daily chart Trend: Bullish Technical levels 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 Covid update: The worst of the surge could still be ahead of us FX Street 1 year Gold teases a bullish breakout with a move to near two-month highs. Major resistance is now located above $1,960, according to the daily chart. Gold is trading at $1,915 per ounce at press time. That's the highest level in nearly two months. The daily chart shows the metal is breaking out of a five-month falling channel represented by trendlines connecting Aug. 7 and Nov. 9 highs and Sept. 24 and Nov. 30 lows. A daily close above $1,904 would confirm the bullish breakout and open the doors for $1,965 (Nov. 9 high). The 14-day Relative Strength Index (RSI) has already breached… 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.
