Gold’s hourly chart shows a bull flag breakout – a bullish continuation pattern, which indicates the corrective rally from the recent low of $1,237 is set to gather steam. The flag breakout has opened the doors to $1,282 (target as per the measured height method). The pattern also validates last Tuesday’s bullish outside day candle and bullish crossover between the 5-day moving average (MA) and 10-day MA. Hourly chart Spot Rate: $1,258 Daily High: $1,258 Daily Low: $1,254 Trend: Bullish Resistance R1: $1,261 (July 4 high) R2: $1,274 (23.6% of recent sell-off) R3: $1,282 (May 21 low) Support S1: $1,254 (session low) S2: $1,244 (June 28 low) S3: $1,237 (July 3 low) 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 US NFP: Closing out Q2 on a strong note – Nomura FX Street 3 years Gold's hourly chart shows a bull flag breakout - a bullish continuation pattern, which indicates the corrective rally from the recent low of $1,237 is set to gather steam. The flag breakout has opened the doors to $1,282 (target as per the measured height method). The pattern also validates last Tuesday's bullish outside day candle and bullish crossover between the 5-day moving average (MA) and 10-day MA. Hourly chart Spot Rate: $1,258 Daily High: $1,258 Daily Low: $1,254 Trend: Bullish Resistance R1: $1,261 (July 4 high) R2: $1,274 (23.6% of recent sell-off) R3: $1,282 (May 21 low)… Top 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.
