gold

    Gold moves in a consolidative mode.

•  live forex Gold moved in a consolidative mode remaining above the prior blue downtrend line. I would maintain my neutral stance, since the possibility for a higher low still exists. A rebound above the aforementioned trend line may challenge once again the 1305 (R1) obstacle. On the other hand a dip below 1280 (S1) could extend the decline towards 1268 (S2). Relying on our momentum studies does not seem a solid strategy since the MACD remains below both its trigger and zero lines, while the RSI seems ready to start moving higher.

•     Support: 1280 (S1), 1268 (S2), 1250 (S3).
•     Resistance: 1305 (R1), 1315 (R2), 1330 (R3) live forex