Gold Looks To Break Trendline Resistance
Gregor Horvat | Sep 21, 2015 03:34AM ET
Gold rallied towards the upper side of a downward channel where a break can occur in September as a rally from the low has characteristics of an impulsive price action followed by a current downward correction.
If that's the case then ending diagonal is completed which means that metal is turning bullish, but for final confirmation of a turning point and big uptrend we need to see broken red trendline resistance as well as 1306 swing. However, from a minimum expectations we will look for 1230 after broken channel line (circled).
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