Gold technical analysis: Summer 2016 highs in the 1370s in sight
- Gold fell $10 shy of the Jan and April highs overnight that came in at around 1365.
- A run through there will open the summer 2016 highs in the 1370s ahead of the Sep 2013 highs in the 1435s.
- In a change of tide, 1338 and 1346 guard the 1320 level ahead of 1311.
- Below there, 1303/06 will open 1297.
- 1297 level meets the 50% Fibo retracement of the late April and early May double-bottom swing lows to recent spike high.
- The 200-week moving average comes in at 1250s.
This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.