Gold has stabilized above 1113.00 levels, which is a positive catalyst since this stability continued during the Asian session.

According to ADX, the bull trend has weakened, while moving averages are covering the movements from the topside, but we still believe that, the bullish recovery will continue so long as 1097.00 holds.

The level of 1113.00 is very important and stability above it, motivate bulls to buy gold.

Support: 1113.00 – 1105.00 – 1097.00

Resistance: 1120.00 – 1130.00 – 1136.00

Direction: Sideways

Posted By: ICN.COMon: August 17, 2015In: Technical Analysis

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