Chart of the Day Gold

Gold is testing the upper wedge line

Gold is trying to break a wedge upper resistance line 1530 level. Rejection from here would lead to another test of 1500 for a reversal downside. Clear confirmed daily close above 1530 is required for an upside continuation into 1600.

ARMAT trading system is neutral

Note: If the Gold breaks above 1530 look for the long trade opportunities with the stop loss below 1520. In the case of rejection here look for the short trade entries targeting 1450

 

 

 

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