Gold Morning Technical Report 21/10/2014
ecPulse
2014-10-21 06:48AM UTC
The metal is trading positively as expected in our previous reports, and benefited from stabilizing above 38.2% correction at 1236.15 showing above. Stability above the referred to level is positive as it favors to extend the upside move towards 61.8% correction at 1269.15 levels.
As for today, the interval and the bullish extension for today is Fibonacci levels 50% residing at 1252.65, but trading above 1236.15 forces us to favor breaching the referred to level. Linear Regression Indicators, MACD and RSI are positive supporting our expectations.
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