Gold: MACD Showing Positive Bias
ICN.com | Nov 18, 2014 02:40AM ET
Despite fluctuating in a tight sideways range, Gold stabilized yesterday and today above 23.6% correction at 1181.80 showing on graph, and also consolidated above Linear Regression Indicators. MACD is showing a positive bias and RSI is attempting to breach line 50 forcing us to think the possibility of a bullish wave is valid for today and the rest of the week.
The bullish possibility requires not to break 1176.75 and stabilize below it, but to strengthen positivity, the metal should stabilize above 1181.80. The first target of the suggested bullish wave resides at 1213.05 represented in 38.2% correction showing above.
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