Gold looking for a good start in 2015

By Julian Yosovitch

January 12, 2015 • Reprints

http://www.futuresmag.com/2015/01/12/gold-looking-good-start-2015

Gold has shown a significant rally in recent weeks and trades at $1,234 on Monday.

After the actual recovery, the metal has broken short-term resistance, making way for new bullish rallies toward higher areas around $1,260 initially and then $1,290-1,300 later.

Then, with a break above  that level, we will see a continuation on the recovery making way for new hikes toward the $1,330-$1,390, within highs of last March.

If we see bearish attempts, gold may find support at  $1,210-1,200 or potentially $1,180, from where the uptrend should be resumed.

Only with a direct break below $1,180, the mentioned increases will remain neglected and we can see a larger selloff toward previous minimums at $1,131 where the increases should be finally resumed.