Technical Analysis

GOLD Ready To Bounce Back

Typography

Gold is trading lower within uptrend channel. Hourly support is given at a distance 1319 (intradayy low). Hourly resistance is located at 1357 (08/09/2016). Stronger support lies at 1204 (10/07/2017 high). Expected to show continued increase within uptrend channel.

In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low)

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Swissquote Bank SA
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