For almost a month Dukascopy Analytics stated that on the larger scale the yellow metal is heading to the 1,260.00 level. The move has occurred and fully ended on Friday.
The bullion has surged above the resistance levels at 1,260.00 and even broken resistance levels at that level. The surge was stopped by the upper trend line of a medium term pattern.
In regards to the near term future, it is expected that the bullion will consolidate its gains. Meanwhile, Dukascopy Analytics are taking the next week off.
