Gold's previous three-hour candle closed at $1,296, confirming an upside break of the bull flag pattern - a bullish continuation which often ends up accelerating the preceding bullish move. As a result, the safe haven metal could rise to $1,310.
A move above $1,300 would also establish a higher high, further reinforcing the bull view put forward by the flag breakout.
The bullish case, however, would weaken if prices violate the higher low of $1,290 created yesterday.
- R3 1304.27
- R2 1300.96
- R1 1297.22
- PP 1293.91
- S1 1290.17
- S2 1286.86
- S3 1283.12
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