Sunday, 8 November 2015

Gold near potential support, above 1105 would be a bullish edge

Weekly chart. Gold is near potential support at the July low, and just below that, trend channel support. I'd be surprised if the July low is broken, but I've been surprised by markets before.

Daily chart illustrates my view that arise above 1105 in coming days would be a bullish edge. It''s been an important level in recent months.