On H4 chart price of Gold on the spot market yesterday closed above resistance in the area of 1243.00 thus opening path to growth in short term. Potential buying opportunities we can search after corrections to the broken support area at 1,243 or one of the lines of the uptrend visible on the graph below. A key target for growth is such a scenario is in the area of round level of 1300.00.
As today day ends week, and next Tuesday we will have the end of February, we should also pay attention to the weekly and monthly charts, because on them there may be some more clues predicting future movements (eg. Formations candle with price action – more about them on the webinar in Monday 27-February).
