Gold is bounced strongly after testing 1180.00 major low on Tuesday, attempting to settle above 1220.00 resistance level, where stability above this resistance completes a bullish double bottom formation. The break above 1220.00 remains tentative, we would like to see a daily closing to confirm it, however, the bullish bias is favored today.
Support: 1220.00, 1215.00, 1208.00, 1200.00, 1190.00
Resistance: 1230.00, 1243.00, 1250.00, 1258.00, 1268.00
Gold Trading Recommendation (02/01/2014) Long above 1218.00, targets at 1230.00 and 1250.00. Stop loss below 1205.00.
Support: 1220.00, 1215.00, 1208.00, 1200.00, 1190.00
Resistance: 1230.00, 1243.00, 1250.00, 1258.00, 1268.00
Gold Trading Recommendation (02/01/2014) Long above 1218.00, targets at 1230.00 and 1250.00. Stop loss below 1205.00.
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