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

 

  • 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.

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