Gold Weekly Technical Outlook

Gold's strong rebound confirms short term bottoming at 1124.3. Further rise is now expected to 55 day EMA (now at 1205.1) and above. Strong resistance could be seen at 38.2% retracement of 1377.5 to 1124.3 at 1221.0 to limit upside. Nonetheless, sustained break of 1221.0 will target 61.8% retracement at 1280.8 and above.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/gold-weekly-technical-outlook-2017010834068/