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    Gold technical analysis for February 10, 2016 2016-02-10

    Gold price is making a consolidation near highs between $1,185 and $1,200. This trading range once broken will provide at least a short-term trend pushing the price to at least $1,215 or $1,160.


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    Yellow line - long-term resistance trend line

    Gold price is testing important weekly resistance levels as we anticipated yesterday. A breakout above the weekly cloud and out of the downward sloping wedge will increase chances for the long-term reversal. A rejection at current levels will open the way to the level of $1,100 again.

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