Gold Weekly Technical Report 3-7/6/2013

ecPulse
2013-06-03 12:32PM UTC

Gold retested 1420.00-resistance level on Friday, before retreating to retest the short term broken descending resistance around 1385.00- shown on the daily chart above. After breaking this trend line, the bullish rebound scenario remains favored, where we look for a retest of 1445.00, the 50-days SMA at 1460.00 and finally 1478.00 previous key horizontal resistance.

 

 

 

 

** Short term (Less than three months)

** Chart is based on GMT+2 timing

Notes: 

*if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.

 

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