www.goldtrends.net The gold market is consolidating its gains from last week as price broke out of a five month trading range. First support this week is the upper red line in the 1450--1455 area. Additional support is the 1444 area and the lower purple line. The action today looks most like a normal consolidation after a good run. As long as price is above the red line and/or the lower purple line on a closing basis --- the trend remains up. Resistance is the 1488-1515 area this week.
Gold Charts for Monday
www.goldtrends.net The gold market is consolidating its gains from last week as price broke out of a five month trading range. First support this week is the upper red line in the 1450--1455 area. Additional support is the 1444 area and the lower purple line. The action today looks most like a normal consolidation after a good run. As long as price is above the red line and/or the lower purple line on a closing basis --- the trend remains up. Resistance is the 1488-1515 area this week.
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