Gold Outlook: Trend Slightly Negative
Petros Steriotis | Oct 26, 2014 01:36AM ET
Gold’s technical rebound from its long-term support at $1.183 fell short a bit above $1.250. The commodity hovers around support at 1.230, with the next support levels being at 1.220 and 1.210. The daily trend is slightly negative, which increases chances for lower levels next week. Dollar strength is not helpful to gold bulls either, while investor fears about global growth etc. seem to have faded out in the last couple of days.
Gold, 5-hour chart:
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