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. 

IGA, may distribute information/research produced by its respective foreign marketing partners within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

This information/research prepared by IGA or IG Group is intended for general circulation. It does not take into account the specific investment objectives, financial situation or particular needs of any particular person. You should take into account your specific investment objectives, financial situation or particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. In addition to the disclaimer above, the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

See important Research Disclaimer.

Find articles by writer