Gold Weekly Technical Report 20-24/10/2014
ecPulse
2014-10-20 07:17AM UTC
Despite that the bullish wave stopped last Thursday and Friday, the metal remained stable above 38.2% correction most of the time at 1236.15 showing above. Trading above the referred to level is positive and could trigger further bullish attempts. Linear Regression Indicators and MACD are positive. RSI is trading above line 50 which forces us tothink that the price will try moving to the upside this week to test 1269.15.
From the downside, only a break below 1215.75 forces us to reconsider our positive expectations, and without that, the positive possibility remains valid. For further information
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