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GOLD 08/04/2014
2014-04-08 16:00:15


After touching 1296.00 levels, the metal rebounded to the upside and is currently trading close to 38.2% correction at 1309.35 - 1309.40 showing on graph. Breaching this level might extend bullishness reaching 1323.20, as stabilizing above it bring positivity back.

MACD is attempting to achieve a positive crossover as RSI is trying to breach line 50, then these catalysts makes breaching 1309.40 significant to confirm the positive signals on technical indicators. As for Linear Regression Indicators despite being negative on the daily graph, they are positive on the four-hour interval.
 
 
Support 1300.00 1296.25 1293.00 1285.00 1280.00
Resistance 1309.40 1315.00 1323.20 1330.00 1339.35
Recommendation
Based on the above, buy gold above 1305.00 targeting 1315.00, 1323.00 then 1339.00 then stop-loss below 1290.00.

 

 



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