GOLD: Bullish Breakout (Buy)

GOLD: had a bullish breakout last week when price bounce from 1252.00 to 1292.40 in 3 days. Although, technically the bullish breakout started on July 28th, when price break the resistance trend line above 1262.00, buyers will look for continuation and consolidation, similar to the one last week. The next key resistance for GOLD to break is above 1295.00. While the previous resistance line from the channel will serve as a key support level.


Plan A: Buy at 1265.001280.00, Target Price 1330.00/1360.00, Stop Loss 1250.00

Daily Chart

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