18 Jun 2019
Gold technical analysis: Summer 2016 highs in the 1370s in sight
- For gold bulls, the Jan and April highs came in around 1365 which guards the summer 2016 highs in the 1370s ahead of the Sep 2013 highs in the 1435s.
- To the downside, 1346 was broken and now 1320 is guarding 1311.
- On a follow through, 1303/06 guards 1297.
- 1297 level meets the 50% Fibo retracement of the late April and early May double-bottom swing lows to recent spike high.
- The 55-week ma sits at around 1260s and the 200-week ma comes in at 1250s.
