by Bill Downey     Price Analysis of Gold and Silver
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Technical Analysis Trading Gold, Trading Silver/ analysis By Bill Downey providing key turning points & charts for investors and speculators in Precious Metals Trading, and Precious Metals Markets

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Gold Short term price resistance area

16 Jun 2016 11:11 AM | Bill Downey (Administrator)

Gold Short Term (Bullish)

Our last update indicated that if gold got thru 1272-1285 it would target 1303-1322. Today’s spot high at 1313 has gold at the center of that resistance zone. The 1313 area looks to have strong resistance today (Thursday) and might very well be where they cap it.

With that said, it is not impossible for gold to move to the 1322-1340 area before a short term cycle peak comes into play. Short term support is 1286-1295 and then the 1263-1272 area. In summary, the short term trend remains bullish, but the potential for a short term peak is high at 1313-1322 or at 1340. One of those two points should be where the June high takes place.




Technical Analysis :: Gold & Silver

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