Steve Miley, MSTA
MarketChartist
Gold future bullish pressures re-energizing
A strong push through 1324 and 1326 after prior rebounds from 1314 and 1312 ahead of the early July spike low at 1309, leaves a solid up trend within the range phase and bigger picture upside risks intact.
We see a resilient digestion phase late this week, with the bias to challenge the 1334/35 resistance area.
The threat through mid-July (maybe this week) remains for a push higher through here to aim for chart and retrace targets above at 1343 and 1360.
WHAT CHANGES THIS?
- Below 1312 eases bull risks; through 1305 signals a neutral tone, only shifting negative below 1276.
2 Hour Gold Future Chart
Daily Gold Future Chart
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