Gold - strong support at 1300

17 Eyl 2017

Gold has broken out of the long-term triangle with a bullish impulse move.

Confluence at 1300 zone of:
1. resistance turned support
2. 38% retracement fib of last impulse move
3. round number & psychological support (of 1300)

... makes it a high probability area for a long-term long position if supported with bullish price action.

2 Eki 2017

Emir iptal

Price posted a bullish candle that closed strongly above 1300 on 25/09 however retreated strongly the following day.

The next significant technical support is 1240 - the intersection of the long term falling trend line and the near term 78.6 fib retracement