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Spot Gold Extends Its Gains Amid Growing Uncertainty, China Concerns, and a Weakening US Dollar

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Below is what we discussed yesterday. just as Spot Gold was breaking above key resistance at $1090. Today's strength has extended the upside thrust to $1109, in route to a confrontation with the declining 200-Day EMA, now at $1132. At this juncture, only a decline that breaks beneath $1077 will begin to compromise upside continuation. MJP 1/07/16 Today, Spot GOLD has thrust above key near term resistance at $1090, which completes a Nov- Jan initial bottom pattern, but represents a potentially

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