BULLION NEWS UPDATE ( www.trademaxindia.com ) call@ 8218995526 , 8077693966

Gold & Silver Price Analysis – Rallies Extending into Important Zones

GOLD TRYING TO SNEAK ABOVE RESISTANCE ZONE

Gold found its footing at confluent support last week, and with Friday’s slingshot higher and follow-through it is trying to slip above the 1305/1310 zone. This area dates to February of last year and demonstrated itself as strong support and resistance through until June.

With gold currently extended and hanging out just above on an intra-day basis, risk of a failure is elevated. A pullback will have the trend-line from November and the high from Jan 4 a couple handles below 1300 in focus as support.

 

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