Gold penetrated the resistance of the pennant continuation pattern, suggesting a move higher is likely today, as price may extend the bullish wave after a short phase of consolidation. Accordingly, we maintain our bullish view.
Support: 1322.00, 1313.00, 1308.00, 1300.00, 1294.00
Resistance: 1338.00, 1350.00, 1360.00, 1365.00, 1375.00
Recommendation Long gold above 1323.00 targets at 1338.00,1365.00, and 1390.00. Invalidation below 1308.00