XAU/USD Outlook: Recovery Rally?
FinFX | Aug 15, 2013 05:11AM ET
Spot Gold ended near-term correction that found support at 1315, Fibonacci 38.2% of 1272/1343 upleg, with fresh strength approaching 1347 barrier. Break here is required to resume larger recovery rally from 1180 low, with positively aligned near-term studies supporting the notion. Daily Ichimoku cloud top at 1334, now offers immediate support, while key near-term support and pivotal point lies at 1315 higher platform.
Res: 1347; 1366; 1374; 1394
Sup: 1336; 1315; 1308; 1299
Source: FinFX Daily Market Outlook (www.finfx.fi)
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