Monday, August 12, 2013

GOLD PRICE ACTION: Pulls higher from Pin bar Trade Setup, breaks through resistance Zone. August 12, 2013

In the previous analysis I did on the metal, I talked about the possibility of the metal staying contained within a trading range unless we got a breakout from he range. We didn't really have to wait too long as the pair continued moving higher in today's trading, breaking through its resistance zone. If tomorrow's trading fails to counter this minor bullish break, the pair would aim towards the breakout line from where the bias on the pair would change completely to bullish from it previous bearish disposition.

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