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2/29/2016 2:47:10 AM

Gold keeps rising - Technical Analysis - 29-02-2016



Gold prices kept rising in the intraday levels, with overall dominance of the main upward trend in the medium and short terms, with positive support from the SMA50, and an ongoing influx of positive signals from relative power indicators like the Stochastic as shown below the attached chart, while noting gold's trading along that upside short-term trend line as shown in the attached chart, leading it higher after leaning on it in the recent trading.

Therefore we reaffirm our positive outlook for gold in the coming trading, targeting the crucial and pivotal resistance of ,1,138.50.


Target
Risk


Support
Resistance


Trend Bullish

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