Gold breaking higher once more
Yet another symmetrical triangle is being broken for gold, with price currently pushing through the crucial $1273 resistance level. This means we have now created a new higher high to match the continued higher lows seen over recent days.
As such, a bullish view is held unless we saw a move back below $1263. Near-term resistance is Friday’s high of $1280, with the next major level beyond that is found at $1307 (January 2015 peak).