Gold Price and Silver Outlook Dented by Wall of Resistance

From dailyfx.com

Last week, gold rallied strongly into a major zone of resistance, measuring from the February peak at 1347 up to the July 2016 high at 1375. The macro-wedge has a top-side trend-line running over from 2014, with several important connecting points making the zone ahead quite formidable. With that in mind the pullback in gold price to start the week came as no surprise. The question is whether it can garner the strength to push on through the aforementioned levels and spark a lasting macro-breakout that could have gold running for the foreseeable future. In the near-term there may be more problems. Following the ... (full story)