Gold has broken above its neckline from the 4+ month inverse head and shoulders pattern. Head and shoulders measurement techniques place the objective at 1250. 1135-1140 is potential support.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market.
