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FX.co ★ GOLD Intraday Technical analysis

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Forex Analysis:::2010-11-19T08:56:10

GOLD Intraday Technical analysis

GOLD Intraday Technical analysis

It seems Gold is forming a pattern "Head-shoulder", the upper limit of the shoulder is at 1366. A breakthrough of this zone will invalidate this scenario and release a significant upside potential.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate has broken its resistance at 1366 with a 1st objective of 1376, then 1384. A breakout in 1364 will invalidate this scenario.

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