Technical analysis: key levels for gold

Gold uptrend likely to come under pressure, with massive resistance up ahead.

Gold figure

Gold rallying into trendline resistance

Gold has been moving higher in a consistent manner over recent weeks, with the price now rallying towards a crucial area of resistance. With trendline resistance, and the key $1300 barrier up ahead, the wider downtrend in play throughout Q4 could begin to reverse if the price was to push through these upcoming hurdles.

As such, while we have a very clear uptrend in play, it is worthwhile noting that these resistance levels could be make or break for gold as we close out 2017. 

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