Gold draws positive formation 21/05/2013
Economies.com
2013-05-21 05:39AM UTC
Gold price rallied higher sharply yesterday surpassing the minor bearish channel’s resistance and draws positive technical pattern that appears in the image, the confirmation level of this pattern is located at 1400.00, thus breaching above this level will provide bullish targets reach towards 1460.00
Now, we need to stay aside temporarily, in order to monitor the price behavior according to the critical levels which are represented by the mentioned resistance and 1368.00 support and getting confirmation signals.
Expected trading range for today is between: 1370.00 support and 1425.00 resistance.
Expected trend for today: Neutral
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