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GOLD 22/05/2014
2014-05-22 15:23:16

 


The metal rebounded to the upside again from areas around 1285.00 and is trading positively attempting to confirm stability above Linear Regression Indicators. After the referred to support 1285.00 confirmed its ability to give the price bullish momentum, we will be positive as long as the metal stabilizes above it. Of note, a break below 1276.00 cancels the positive expectations.
Linear Regression Indicators are positive despite trading in an upside move. RSI tends to be neutral which requires stabilizing above 1300.00 later to confirm the upside move intraday today.
 
 
Support 1290.00 1285.15 1277.90 1272.00 1266.55
Resistance 1296.60 1300.00 1305.00 1309.35 1318.10
Recommendation
Based on the above, long gold above 1293.00, targeting 1300.00, 1305.00, then 1309.00, and stop-loss below 1276.00.

 

 





TIME
Sydney Tokyo Ha Noi HongKong LonDon NewYork
Prices By NTGOLD
We Sell We Buy
37.5g ABC Luong Bar
5,347.904,927.90
1oz ABC Bullion Cast Bar
4,443.804,043.80
100g ABC Bullion Bar
14,204.0012,954.00
1kg ABC Bullion Silver
1,701.101,351.10
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