Gold's Bearish Direction Strength Decreases
ICN.com | Dec 02, 2015 04:33AM ET
Gold's bearish direction strength decreased according to ADX readings, while RSI14 shows bullish tendency and that would trigger potential upside correction.
A break above 1074.00 is the first thing we need to be bullish after retracing from 1051.00 zones.
As per trading, we prefer using small quantities, as the negative pressures from moving averages continue. On the downside, coming below 1061.00 will weaken the bullish chances.
Support: : 1064.00 – 1061.00 – 1051.00
Resistance: 1074.00 – 1081.00 – 1090.00
Direction: Bullish correction
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