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GOLD 15/05/2014
2014-05-15 15:29:12

Yesterday's upside move was halted at 1309.35 which worries us in regards to the positive expectations of the past few days. RSI 14 and MACD is showing weakness in the bullish strength. Therefore, we will remain neutral today waiting to confirm a break above 1309.35 to bet again on an upside move.
We cannot currently confirm the downside move unless the pair breaks 1277.00, which makes Risk/Reward Ratios inappropriate, and we also wait to intraday confirm bearishness by confirming failing to breach 1309.35. In conclusion, we remain neutral today.
 
 
Support 1300.00 1296.60 1293.00 1285.00 1280.00
Resistance 1305.00 1309.35 1318.10 1224.35 1331.50
Recommendation
Based on the above, we prefer to remain neutral today.

 

 



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