Gold’s recovery from the session low of $1327.45 followed by a move back above expanding channel resistance following a two-day losing streak indicates the metal could be heading back to 5-DMA level of $1350/Oz levels, but reckon the resistance would stay intact.
On the lower side, a day end closing back inside expanding channel would add credence to the retreat from the resistance zone of $1375-1380 (also point C of the potential Cypher set ups) and open doors for a drop to $1300 levels.
On the lower side, a day end closing back inside expanding channel would add credence to the retreat from the resistance zone of $1375-1380 (also point C of the potential Cypher set ups) and open doors for a drop to $1300 levels.
