Gold breaks through trendline resistance
Gold has broken through trendline resistance, following yesterday’s FOMC meeting. After a brief overnight pullback from $1263 resistance, we are seeing another sharp rally this morning.
As such, the bullish view is back in play, with $1280 and $1284 the next major resistance levels of note. Essentially we will be watching for continued higher highs and higher lows on an intraday basis to continue the bullish outlook.