Gold Trades Near Previous Top At 1191.50
ICN.com | Feb 09, 2016 05:39AM ET
Gold trades at very sensitive levels near the previous top of 1191.50 and near the main resistance of the bearish trend seen on the chart at 1200.00.
RSI shows overbought sign, while ADX remain positive as same as moving averages.
Hence, we will be neutral to see how the metal will behave around the aforementioned resistance; noting that, a break above 1200.00 will bring additional upside actions towards 1210.00 and 1231.00.
On the downside, coming below 1174.00 will negate.
Support: 1074.00 – 1060.00 – 1050.00
Resistance 1092.00 – 1200.00 – 1210.00
Direction: Neutral
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