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27 Jan 2014
Gold climbs to fresh 2-month highs
FXstreet.com (Córdoba) - Gold started the week demanded, extending last week gains and earlier rose to $1,279 reaching the highest price since November 20. Price retreat afterwards, finding support at $1,270.
At the moment of writing the spot gold is trading at $1,273, up more than $5 from Friday's closing price, headed toward the third daily gain in a row.
Last week posted the fifth weekly gain in a row, confirming a bullish bias. Nial Fuller, from Learn to Trade the Market, notes that it closed above a key resistance zone located at $1,260 - $1,270 signaling that the bullish momentum is not wavering. “Given this fact, and that the 8 / 21 day EMAs are crossed up and diverging, we could see more bullish momentum this week”.
At the moment of writing the spot gold is trading at $1,273, up more than $5 from Friday's closing price, headed toward the third daily gain in a row.
Last week posted the fifth weekly gain in a row, confirming a bullish bias. Nial Fuller, from Learn to Trade the Market, notes that it closed above a key resistance zone located at $1,260 - $1,270 signaling that the bullish momentum is not wavering. “Given this fact, and that the 8 / 21 day EMAs are crossed up and diverging, we could see more bullish momentum this week”.