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2/19/2016 4:39:38 AM

Gold rebounds anew - Technical Analysis - 19-02-2016



Gold prices jumped in the intraday levels after leaning on the SMA50, giving it positive momentum that helped it rise, and also leaning on the main upward short-term trend line, with the dominance of that trend on gold's previous movements, while noting a bounce lower in today's morning as gold tries to search for a bottom to bounce off it higher, while traders take profits.  

Therefore we expect more gains for the precious metal, targeting the pivotal resistance of 1,248.55, readying to attack it.


Target
Risk


Support
Resistance


Trend Bullish

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