1322 and then 1360 in its final dash - Where Next???
Gold has been trading in the this 4 hour bull channel and is getting close to previous key resistance levels around the 1360 level.
Last week saw price action move back to the 1322 mark, a slight pullback to the 1330 area and will now retest the 1322 level.
Following the trend, 1322 should be retested at the support line of the channel before it moves back up to 1360.
From here I would expect to see a test and then resets of the 1360 level - before breaking resistance or making a big move back down.
Gold will be interesting to watch over the coming weeks.
Last week saw price action move back to the 1322 mark, a slight pullback to the 1330 area and will now retest the 1322 level.
Following the trend, 1322 should be retested at the support line of the channel before it moves back up to 1360.
From here I would expect to see a test and then resets of the 1360 level - before breaking resistance or making a big move back down.
Gold will be interesting to watch over the coming weeks.