The bearish pressures persist after yesterday’s inclines and we are still seeing this action as a profit taking.

We remain bullish and we hold onto our position; noting that, a break above 1236.00  will re-new the buying interests, while 1219.00 should protect us.

Gold has touched 61.8% Fibonacci at 1260.00 yesterday where it declined to trade between 50% at 1219.00 and the aforesaid levels.

ADX remains positive along with moving averages and a break above 61.8% Fibonacci will ease the path towards 1280.00 and 1281.00 although RSI reflects overbought signs.

So that, some kind of strong corrective actions could be seen, but the bullish scenario remains valid.

Support: 1236.00 – 1230.00 – 1219.00

Resistance: 1250.00 – 1260.00 – 1281.00

Direction: Bullish with sharp fluctuation awaited.

• Gold Pressured By Bearish Outside Markets   (2016-11-01 03:50:56)
• Trend Down Under at 1360.00 and 1347.00 1332.00 targets 1370.00 as long as they do not violate   (2016-07-12 17:27:51)
• Direction: neutral   (2016-07-01 16:54:07)
• Direction: neutral   (2016-06-30 15:17:32)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-30 05:32:18)
• Direction: Bullish above 1317.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-28 05:40:46)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1280.00   (2016-06-24 20:25:31)
• Direction: Bearish below 1263.00, targeting 1250.00 and 1239.00 as long as the price trading below 1282.00   (2016-06-23 19:20:37)
• Direction: Bearish below 1262.00, targeting 1252.00 and 1240.00 as long as the price trading below 1280.00   (2016-06-22 14:56:10)
• Direction: neutral   (2016-06-20 20:28:46)