Gold: Weekly Report
ICN.com | Dec 15, 2014 04:15AM ET
Gold touched around 1213.05 at 38.2% correction as showing on graph and rebounded to the upside. The possibilities of new bullish attempts are valid this week, and the pair will try to move back to the upside to test 1238.25, and breaching it triggers another bullish wave towards 1263.50.
From the downside, stabilizing above 1200.00 is the main catalyst to keep the positive outlook, whereas breaking the referred to level weakens the positivity. Linear Regression Indicators are positive and MACD signals lines are trading above line zero to the upside supporting the positive possibility.
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