Gold is bullish , break of 1330 would open 1450/1600 levels !

gold _ usd

As shown on the weekly chart below , the gold  maintained a strong bullish momentum last week , printed a new support at the 1251 levels, resistance is at the 1330  levels, sustained break on weekly basis above this level will have large bullish implication towards the 1450 levels where a breach is likely, If seen, It will target the 1591 levels, further out will expose the psychological level 2000 and aim the 2300/2400 levels.

On the downside, support comes at the 1251 levels, losing this level on a weekly basis would weaken the current bullish run for retesting 1180 levels, losing this level would open the 1000 levels.

Very important: In case the pair manage the clear 1330 on a weekly basis, eyes will be on 2300/2400 levels in 2014 !!

 

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1 COMMENT

  1. You really make it seem so easy with your presentation but I find this topic to be actually something which I think I would never understand. It seems too complicated and extremely broad for me. I’m looking forward for your next post, I’ll try to get the hang of it!

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