Home Gold technical analysis: Summer 2016 highs in the 1370s in sight

Gold technical analysis: Summer 2016 highs in the 1370s in sight

Updated: 18 Jun. 2019 | 00:57

For gold bulls, the Jan and April highs came in around 1365 which guards the summer 2016 highs in the 1370s ahead of the Sep 2013 highs in the 1435s.
To the downside, 1346 was broken and now 1320 is guarding 1311.
On a follow through, 1303/06 guards 1297.
1297 level meets 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.

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