Gold is moving near the minor resistance and we hinted at many resistances that the metal faces.

The positivity increased on RSI and ADX, but we need more bullish signs to prove the bullish direction.

Therefore, we will be neutral and will update if the metal failed to maintain levels above 1136.30.

A break above 1146.50 will cause higher move above 1154.65; noting that, SMA50 is at 1161.80.

Support: 1136.00 – 1130.00 – 1120.00

Resistance: 48.10 – 49.00 – 49.80

Direction: Neutral with probability of moving higher above 1146.50.

Posted By: ICN.COMon: September 01, 2015In: Technical Analysis

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