Gold Morning Technical Report 23/10/2014
ecPulse
2014-10-23 07:08AM UTC
Gold dropped yesterday after failing to stabilize above 1252.65 the day before, but this downside move remained limited above 38.2% correction at 1236.15 and above Linear Regression Indicators. Linear Regression Indicators are trading positively and RSI is moving in a bullish bias above line 50. MACD is also trading positively supporting the possibility of bringing positivity back.
Only a break below 1236.15 weaknes the positivity intraday today, and trading above it will lead to breaching 1252.65 to push the price to upside towards 61.8% correction at 1269.15.
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