Monday, June 13, 2016

Gold Higher

Gold gained some $10 in today's session after opening at $1,274. The precious metal climbed to $1,281 in the early hours today and reached a high of $1,284. Gold has been in a bull run since the psychological $1,200 was reached in the end of May.

Although Gold bulls are having a good time, Gold bears don't seem to be done as they are waiting to push prices down again and as it appears, now is a good time since Gold is currently at resistance. If this level hold then we might expect a visit to lower levels again. If it doesn't, bulls need a close above $1,300.

Chart: XAU/USD H4


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7 comments:

  1. UnknownJune 13, 2016 at 8:56 PM

    Great daily note, thank you.

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  2. UnknownJune 13, 2016 at 9:53 PM

    I think it will continue climbing.

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  3. UnknownJune 14, 2016 at 6:23 PM

    It's still testing $1,290, but it will likely break above that level.

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  4. UnknownJune 15, 2016 at 1:32 AM

    In fact a significant recovery!

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  5. UnknownJune 15, 2016 at 5:21 AM

    Interesting levels to be watchful of, thanks for the info.

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  6. UnknownJune 16, 2016 at 12:34 AM

    Keep up the good work.

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  7. UnknownJune 16, 2016 at 2:11 PM

    Gold is trading significantly higher after FOMC meeting and today broke the major resistance at 1,300.

    ReplyDelete

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