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GOLD In Defensive N/T Mode After Double Top At 1278

Discussion in 'Technical Analysis' started by Kaitlin, May 12, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Spot Gold weakened to 1266 (session low), after repeated upside rejection at 1278, just ahead of strong 1280 barrier (daily Tenkan-sen 10SMA 50% retracement of 1303/1256 downleg). Fresh bearish acceleration was triggered after hourly double-top was left at 1278, with weak near-term studies, keeping downside at risk. On[​IMG]

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