Gold price has broken above $1,300 and has closed above the 61.8% retracement resistance of the decline from $1,393. This resistance is important and as long as we hold above $1,300, momentum will be in favor of bulls. We could see a minor pullback towards $1,290 today to backtest broken resistance but overall trend is bullish. On the daily chart aboe we see how Gold has broken above the 61.8% retracement of the decline from $1,393.
Read more about Gold technical analysis for January 21, 2015
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