Gold Will Soon Test The Crucial Resistance

Indices start the new week on the front food, drawing another bullish candle on the daily chart. On the SP500 it starts to look a bit ridiculous to be honest with you.

Dax is more modest, inside of a mid-term trend continuation pattern. Of course breakout to the upside seems more probable.

I guess the star of today is gold, which is climbing higher towards the crucial resistance of 1835 USD/oz. This is where the great battle will probably take place.

Silver is also advancing higher, creating the right shoulder of the iH&S pattern

USDJPY is going lower after breaking the crucial horizontal support, which happened after the bearish escape from the triangle.

EURCHF has a promising triple bottom formation.

AUDNZD collapses after the beautiful Head and Shoulders pattern.

The same applies to the CHFJPY.

For a look at all of today’s economic events, check out our economic calendar.