Gold Weekly Technical Report 2-6/2/2015
ecPulse
2015-02-02 08:07AM UTC
Gold prices rose last Friday and rebounded to the upside from levels around the support 1263.50. But MACD tends to be negative and RSI is moving in a downside move supporting the possibility of bringing the downside move back.
We cannot be negative now as the bullish rebound from the resistance previously breached and turned to support at 1263.50 gave the pair a bullish momentum, but with the negativity of MACD and RSI, we prefer to remain neutral in our weekly report waiting for new confirmation signals.
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