The price of gold rose yesterday breaking the resistance 1310, which strengthens the probability of continuation of the upward trend to be the next targets around the resistance 1326 as the first target and then the February summit around 1345 as a second target … The price may need to retest the 1310 – 1311 to gather enough momentum bullish because of the signals saturation that They appear on Stochastic and RSI indicators.
A break of the recent bullish formation with a four-hour closing below 1298 might be enough to derail the upside scenario, and the price could then head to the 1282 support test, which could be breached by a break-even scenario with 1263 support as the first target and then 1243 as a second target.
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