Gold is breaking above the strong resistance.Â
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Gold is breaking above the long-term falling trend line resistance 1850. We need to see a follow-through above 1860 as this is the solid horizontal resistance that needed to be broken for a continuation higher.Â
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The weekly chart shows a test of the critical upside resistance now. It is a confluence of the mentioned falling line and horizontal resistance. A clear confirmed break above 1860 next week will signal that a continuation to 2100 is a high probability. A break below 1835 is now needed to invalidate the upside extension scenario.
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On a daily chart, we can see a good RR trade opportunity Already a member? This article is so good, it’s for premium members only.
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