Gold declined but it is still trading above 1259.00, which keeps chances for resuming the bullishness available. A break above 1272.00 will affirm and accelerate as fa as 1250.00 hold.
The bullishness on Gold stopped by 1280.00-1281.0, which should be cleared to affirm the bullishness.
However, stability above moving averages 20 and 50.00 is positive along with RSI moving above 50.00.
Despite the decrease in bulls’ power on ADX, but we remain bullish based on stability above 1259.00.
We will close all open positions once gold fails to hit 1280.00.
Support: 1265.00 – 1259.00 – 1250.00
Resistance: 1281.00 – 1295.00 – 1300.00
Direction: Bullish attempt
Tags:
