Gold - European Session
ICN.com | Oct 17, 2014 04:53AM ET
The metal moved slightly to the downside yesterday but is still above 1236.15. Trading above the referred to level at 38.2% correction forces us to keep our positive expectations targeting 1269.15 and 1253.00 at 61.8% and 50% corrections consecutively. Linear Regression Indicators are positive, MACD and RSI tend to be positive forcing us to bet on an upside move.
From the downside, only a break below 1215.75 fails the current bullish wave, but we prefer to keep trading above 1236.15 to strengthen the bullish possibility intraday today.
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