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andrew.berg

Gold bounced of wedge support and showing some construction

Long
Gold Spot / U.S. Dollar (FX:XAUUSD)  
andrew.berg  
FX:XAUUSD   Gold Spot / U.S. Dollar
Gold XAUUSD Wedge support Support and Resistance break breakout breakup sceanrio strategy tactics
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gold xauusd wedgepattern support supportandresistance break breakout breakup sceanrio strategy tactics
Gold bounced from lows where we have strong wedge support, built nice bull flag and resolved to upside. I see some buying signals here. My plan is to trade Long close to support lines at $1292.62 then $1290.65. Resistance at $1296.37, if buyers will manage to pull it through than we can expect some follow through to next resistance at $1302-05 area.

Good numbers from China Manufacturing PMI could boost demand for commodities.

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andrew.berg
Gold found support and looks ready for move higher
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