US Gold May Test $1710 Resistance Soon

Published 01/18/2013, 02:57 AM
Updated 05/14/2017, 06:45 AM

Gold is back testing resistance at 1690.9 (38.2% retracement of the October to January sell-off) after it has been pushed around by US data this PM. First lower following stronger than expected US Housing Starts and Jobless claims and then higher after Philly Fed disappointment. A break above this level will help the continued rebuilding of investor confidence and could open up for a test towards critical resistance at 1710. See the Bloomberg chart below.
Gold_ole_s_hansen

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