FX.co ★ Gold Breaks Trendline, But 1740.00 Remains Intact.

Technical Outlook and Chart Setups:

As seen above, Yellow metal broke past the support line on Friday but managed to hold 1740.00 level for now. The overall structure remains constructive till prices which stay above 1740.00 level. It is suggested to hold existing long positions rather than entering longs at the moment, since the trendline is broken for now. Resistance is above the 1770 region and a minimum push through the level will be required to instill further confidence in the bullish momentum. 1740.00 region remains support for now.

Trade Recommendations:

Stay long from last week, stop below 1740.00, and target open.

Good Luck!