Gold affected by a positive formation – Technical Analysis – 19-11-2015
Gold price rose to breach a falling wedge’s resistance line, which allowed the price to get positive momentum that pushed it to breach the moving average 50, getting its positive support.
Thus, we expect to rise in the coming trading, targeting 1097.50 key resistance as a main target of the above mentioned pattern, especially after breaching 1083.00 resistance.
Trend
Bullish