Gold has climbed above short-term technical resistance, breaking to the highest levels since yesterday’s slump. The rise into the ‘gap’ down yesterday and the higher low today suggests it could rebound to $1350.
Gold 10 minute chart
In the bigger picture, gold is in a minor uptrend and it’s met every challenge (including yesterday’s fall) without much trouble. The main level to watch on the upside is the October high at $1361 but I suspect we could have some consolidation first.
