Gold retreats after testing the 50-days SMA approaching the broken
resistance at 1218.00-1220.00 level, which should limit further downside
for the bullish correctional scenario to remain valid. We remain
positive over intraday basis as long as price remains above 1220.00.
Support: 1220.00, 1214.00, 1207.00, 1200.00, 1190.00
Resistance: 1227.00, 1232.00, 1240.00, 1248.00, 1252.00
Gold Trading Recommendation (08/01/2014) Long above 1220.00, targets at 1230.00 and 1245.0. Stop loss below 1212.00
Support: 1220.00, 1214.00, 1207.00, 1200.00, 1190.00
Resistance: 1227.00, 1232.00, 1240.00, 1248.00, 1252.00
Gold Trading Recommendation (08/01/2014) Long above 1220.00, targets at 1230.00 and 1245.0. Stop loss below 1212.00
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