Gold Technical Analysis: Bulls looking for a break of trendline resistance

Ross J Burland FXStreet

Bulls slipped up at the gain line with price dropping back from trendline resistance.
On the way down, 1302 is key ahead of 1298, 1290 while 1280 is a keen target.
Below there, 1275 remains the line in the sand to the downside, and a break below it will put the attention back to the towards to 1250, a key confluence area made up of Fibos and prior support and resistance.
On the next leg up, however, 1320 ahead of 1332 guards the 2019 highs as being the 19th Feb high of 1345.19.

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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