Gold price continues to move sideways. Price might be forming a triangle pattern. Gold price remains above the break out area and should continue higher this week targeting $1,250-60. Any pullback towards $1,210-15 is seen as a buying opportunity.
Green lines – triangle pattern
Black rectangle – support area
Gold price has short-term support at $1,220 and resistance at $1,231. Breaking below the triangle would push price towards the black rectangle support area of $1,213-$1,210. If we break to the upside, the minimum target is at $1,245.
The material has been provided by InstaForex Company – www.instaforex.com
Gold price continues to move sideways. Price might be forming a triangle pattern. Gold price remains above the break out area and should continue higher this week targeting $1,250-60. Any pullback towards $1,210-15 is seen as a buying opportunity.
Green lines – triangle pattern
Black rectangle – support area
Gold price has short-term support at $1,220 and resistance at $1,231. Breaking below the triangle would push price towards the black rectangle support area of $1,213-$1,210. If we break to the upside, the minimum target is at $1,245.
The material has been provided by InstaForex Company – www.instaforex.com
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