Bluecharts

Gold holding on to the uptrend, but which one?

TVC:GOLD   CFDs on Gold (US$ / OZ)
Gold has been holding on to its 2 year uptrend line so far, if it breaks the first support line, it can go low as $1240. The big resistance is at 1360. For bulls to keep in control, gold has to stay above $1240 and try and push past $1360.
Comment: Gold slowling going to the 2 year up trend support, if 1240 breaks, bulls will lose control.
Comment: 2nd support reached, going long with a tight SL at 1254.63.

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