FX.co ★ Technical analysis of gold for October 26, 2016

Gold price has broken above the trading range and is making higher highs and higher lows. I remain short-term bullish looking for $1,300 to be reached. My long-term view remains bullish.

Blue line - resistance

Red line - support

Gold price is above the Ichimoku cloud making higher highs and higher lows. As long as price is above $1,250 I remain short-term bullish looking for $1,300-$1,290. Short-term support is at $1,265 and next at $1,250. Resistance is at $1,290-$1,300.

The daily chart remains bullish looking for a push at least towards the kijun-sen (yellow line indicator). The tenkan-sen (red line indicator) has held and price is breaking out now towards $1,300. Price could also reach the cloud if we close above the kijun-sen.