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11 Jun 2014
Gold could push higher towards at least $1,280.00 levels
FXStreet (Barcelona) - Independent Analyst Harsh Japee reminds that gold has bounced off the $1,240.00/41.00 levels last week, and rallied up to $1,260.00/62.00 levels.
Key quotes
“The potential remains up to $1,280.00 levels on the higher side for now. Please note that past support turned resistance is around the same region ($1,280.00); and bears can possibly take control back there.”
“Support is seen at $1,245.00, followed by $1,230.00/40, $1,210.00 and lower while resistance is seen at $1,280.00 (fibonacci 0.618), followed by $1,300.00/10, $1,330.00 and higher respectively.”
“The structure indicates that Gold could push higher towards at least $1,280.00 levels from here. Only a break of $1,300.00/10.00 would confirm that bulls are here to stay.”
Key quotes
“The potential remains up to $1,280.00 levels on the higher side for now. Please note that past support turned resistance is around the same region ($1,280.00); and bears can possibly take control back there.”
“Support is seen at $1,245.00, followed by $1,230.00/40, $1,210.00 and lower while resistance is seen at $1,280.00 (fibonacci 0.618), followed by $1,300.00/10, $1,330.00 and higher respectively.”
“The structure indicates that Gold could push higher towards at least $1,280.00 levels from here. Only a break of $1,300.00/10.00 would confirm that bulls are here to stay.”