Gold: Stability Above 1280-1281 May Be Cause For Further Climb
ICN.com | Jun 15, 2016 07:32AM ET
Gold price is trading above 1280.00- 1281.00 level, and stability above this level may be a cause for further climb.
Although the RSI of the is near 70 line, and it shows some weakness signs, but the positive is still appearing on the moving averages and the ADX indicator. Therefore, we will be positive in our expectations of the day, as long as the price stabilized above 1270.00 support, with a preference for stability above 1281.00 to keep the opportunity better for gold price to rise
- Support: :1280.00 – 1275.00 – 1261.00
- Resistance: 1290.00 – 1294.00 – 1300.00
Direction: Bullish above 1280.00, targeting 1290.00 and 1300.00 as long as the price trading above 1270.00
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