Gold technical analysis: 1433 comes as the Aug 2013 highs

Ross J Burland FXStreet

The Chiaxin Oscillator crossed above the zero line on the 30th May when price ran higher from 1375. However, the price of gold has now left a mixed outlook on the charts. The momentum indicators are also mixed, reading in overbought territory. 1372 now comes in as a 50% mean reversion target on the downside of the weekly candlestick. On the upside, 1433 comes as the next target as the 2013 August highs

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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