Gold witnessed a bull flag breakout (bullish continuation pattern) on Monday. The metal’s rebound from the confluence of ascending 50-hour moving average (MA) and the upper end of bull flag (now a support) my recharge engines for a break above $1,266 (Monday’s high). Further, the 50-hour MA is holding above the 100-hour MA, and the 100-hour MA is located above the 200-hour MA, indicating the path of least resistance is to the higher side. Hourly chart Spot Rate: $1,259 Daily High: $1,260 Daily Low: $1,257 Trend: Bullish Resistance R1: $1,261.14 (Jue 21 low) R2: $1,272 (June 25 high) R3: $1,282 (May 21 high + bull flag breakout target as per the measured height method) Support S1: $1,257 (5-day moving average) S2: $1,251 (July 5 low) S3: $1,238 (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 UK voters lose confidence in PM May’s handling of Brexit – ORB poll FX Street 4 years Gold witnessed a bull flag breakout (bullish continuation pattern) on Monday. The metal's rebound from the confluence of ascending 50-hour moving average (MA) and the upper end of bull flag (now a support) my recharge engines for a break above $1,266 (Monday's high). Further, the 50-hour MA is holding above the 100-hour MA, and the 100-hour MA is located above the 200-hour MA, indicating the path of least resistance is to the higher side. Hourly chart Spot Rate: $1,259 Daily High: $1,260 Daily Low: $1,257 Trend: Bullish Resistance R1: $1,261.14 (Jue 21 low) R2: $1,272 (June 25 high) R3: $1,282… 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.
