Target: 1355.00
Risk: 1224.00.
Technical Reasons:
Gold price rally stopped to form a double top pattern now, this pattern’s completion will push the price for temporary decline which might retest the previously breached neckline of the inverted head and shoulders’ pattern at 1224.00.
Stochastic is positive and supports the chances of turning back to rise, and the price needs to breach 1272.50 to confirm the continuation of the bullish trend.
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Risk: 1224.00.
Technical Reasons:
Gold price rally stopped to form a double top pattern now, this pattern’s completion will push the price for temporary decline which might retest the previously breached neckline of the inverted head and shoulders’ pattern at 1224.00.
Stochastic is positive and supports the chances of turning back to rise, and the price needs to breach 1272.50 to confirm the continuation of the bullish trend.
www.fxhighway.com
www.facebook.com/fxhighwaycom/
twitter.com/
plus.google.com/1054...15961677289743/posts
