Gold has touched the entry point suggested for subscribers, but it should stabilize above 1150.00 to keep the bullishness available within the triangle pattern; noting that, 1154.00 is the key and trading above this level will be a positive factor.

Gold retraced again upwards after touching SMA20 and SMA50 following the failure to take 1134.00 out yesterday.

Stability above 1156.00 is required to keep the bullishness valid and clearing it would help traders to extend the bullish wave. RSI is moving higher above 50.00 levels.

Support: 1150.00 – 1142.00 – 1134.00

Resistance: 1156.00 – 1162.00 – 1173.00

Direction: Bullish above 1156.00

Posted By: ICN.COMon: October 09, 2015In: Technical Analysis

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