Gold Trading Recommendation (06/01/2014)

In line with our previous analysis, the metal has achieved noticeable upside actions after re-experiencing the pivotal support of 1180.00 as seen on the provided daily chart. However, being covered by SMA 50 and approaching the main short-term resistance line force us to stand aside until bulls prove the ability to resume the bullish recovery. A break back below 1220.00 will bring the bearish impetus back into focus.

                          

Support:      1220.00, 1209.00, 1195.00, 1180.00, 1160.00
Resistance: 1251.00, 1270.00, 1276.00, 1285.00, 1306.00

Gold Trading Recommendation (06/01/2014) :- Neutral