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Gold Facing Tough Resistance

MultiBank Exchange Group
By MultiBank Exchange Group

Gold decreased a little after another false breakout above the warning line (WL1) of the major descending pitchfork. Technically is expected to climb much higher so we could still see a valid breakout above the dynamic obstacle. The next upside target will be at the $1348 per ounce.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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