Gold price remains near key resistance of $1,305. Every time Gold tried to break above the resistance it got rejected. Will the NFP announcement today provide the necessary boost for a break above resistance and finally a move towards $1,320-30? I believe so.
Blue horizontal line -short-term resistance
Yellow line - medium-term resistance
Purple line - short-term support
Green lines - targets
Red extensions -targets
Gold price is still trying to break above the medium-term trend line resistance. A triple top at $1,305 has been formed. There will not be a fourth time. Either Gold breaks it next and move towards our targets of $1,320-30 or it makes new lows. Support is at $1,290-95. Bulls do not want a weekly and daily close below this level. Bulls want a break out today.
