26 Mar 2015
Gold remains bullish for $1223 – Varengold
FXStreet (Barcelona) - XAU/USD remains bullish in the short-term, target being 1223, notes the Research Team at Varengold Bank.
Key Quotes
“…this week is being very positive for gold, as the yellow metal is bouncing from its lows and has crossed easily the bearish trend-line initiated in January.”
“Of course, part of this appreciation is coming from the weakness of U.S. dollar in the last days, which has helped in this recovery.”
“At the moment, the short-term trend is bullish, with 1223 dollars per ounce as the first objective.”
“Below the current level, 1170 and the broker trend-line look supports to take into consideration.”
Key Quotes
“…this week is being very positive for gold, as the yellow metal is bouncing from its lows and has crossed easily the bearish trend-line initiated in January.”
“Of course, part of this appreciation is coming from the weakness of U.S. dollar in the last days, which has helped in this recovery.”
“At the moment, the short-term trend is bullish, with 1223 dollars per ounce as the first objective.”
“Below the current level, 1170 and the broker trend-line look supports to take into consideration.”