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Gold holds above broken triangle resistance, awaiting US jobs data

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GOLD Spot Gold eventually broke above triangle resistance, after two weeks of narrowing consolidation. Yesterday’s strong rally that marks the biggest daily gains after 11 Feb rally, was sparked by weaker US dollar. The yellow metal in extension cracked key barrier at 1263, where yesterday’s trading was closed and posted fresh one-year high at 1267. Firm bullish setup of daily studies, favors further gains, as Gold is on track for strong weekly close, which signals continuation of larger

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