{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gold-fires-price-action-signal-daily-chart-resistance-level-17th-june-14\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gold-fires-price-action-signal-daily-chart-resistance-level-17th-june-14\/","headline":"Gold Fires Off Price Action Signal at Daily Chart Resistance Level | 17th June 14","name":"Gold Fires Off Price Action Signal at Daily Chart Resistance Level | 17th June 14","description":"Gold has fired off a Bearish Engulfing Bar (BEEB) at a key daily resistance level that we discussed in our previous Forex Daily Market Commentary. In\u00a0that previous market commentary we discussed how price was working it’s way higher and towards the key daily level and how price had formed a Bullish Engulfing Bar (BUEB) down […]","datePublished":"2014-06-17","dateModified":"2019-08-06","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2014\/06\/goldfssso.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2014\/06\/goldfssso.png","height":422,"width":973},"url":"https:\/\/forexschoolonline.com\/gold-fires-price-action-signal-daily-chart-resistance-level-17th-june-14\/","about":["Featured Articles"],"wordCount":288,"articleBody":"Gold has fired off a Bearish Engulfing Bar (BEEB) at a key daily resistance level that we discussed in our previous Forex Daily Market Commentary. In\u00a0that previous market commentary we discussed how price was working it’s way higher and towards the key daily level and how price had formed a Bullish Engulfing Bar (BUEB) down at the low that was rejecting the daily support level. Whilst the Gold market had been in a steady move lower on the daily chart, price was over-extended and looking to make a retracement, which price has now carried out.After confirming and breaking the high of the Bullish Engulfing Bar price has moved higher and into what is a key daily resistance level. At this stage this daily resistance level is looking to hold as a new price flip level with the level being an old support level and now looking to hold as a new resistance.Should this Bearish Engulfing Bar confirm and price break lower, there are some minor support levels below with the first minor level coming in around\u00a01264.00 area. If price can gain momentum and move back in-line with the move lower that was in place before this retracement back higher, it would not surprise to see price fall into the recent swing lows. If price cannot break lower and it moves back higher, this daily resistance level will prove to be an important level for where price moves in the short term. Should price move above and most importantly close above the daily resistance level, a new short term momentum\/trend higher could be on the cards. GOLD Daily Chart\u00a0Related Forex Trading Articles & Videos– Professional Trading is More Than Just Making Trades"}