Gold rebounds higher and makes new session highs

Technical Analysis

Author: Greg Michalowski | gold

New highs for the week too

The price of gold is making a new session high and also a new high for the week. The precious metal has been moving up and down in a relatively narrow range this week. The low for the week was on Monday at $1704.19. The high today at $1740.51 to cut the high price from yesterday at $1738.15.  

New highs for the week too
Looking at the daily chart, the swing high from April came in at $1747.36. That would be the next target. Above that is the May high at $1765.43. That was the highest level since September 2012.

Drilling to hourly chart, the up and down is evident with the next targets on it at the June 11 and 12 highs at $1743.22 and $1744.73.

Gold moves to a new week high

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