News Date: 9/5/2014 07:32:40
 The metal remained limited above 1285.10 yesterday keeping the positive expectations. We notice today a negative crossover on Linear Regression Indicators which contradicts with the positivity of stabilizing above 1285.10. We depended yesterday on achieving higher lows, however, as the price is stable above 1277.00 - 1276.00 strengthening the possibility of a bullish wave. Therefore, we will benefit from the appropriate Risk/Reward Ratios to suggest an upside move for today with the same stop-loss and break 1277.00. As soon as the stop-loss is achieved we will become negative. Breaching and stabilizing above 1300.00 levels is significant to confirm positivity today and the upcoming period. | |||||
| Support | 1285.00 | 1280.00 | 1277.90 | 1272.00 | 1266.55 |
| Resistance | 1293.00 | 1296.60 | 1300.00 | 1305.00 | 1309.35 |
| Recommendation |
Based on the above, long gold at 1290.00, targeting 1296.00, 1330.00, then 1309.00, and stop-loss below 1276.00.
In case of stop-loss, selling gold below 1276.00 targeting 1266.00 and 1260.00 then 1250.00 with stop-loss above 1296.25 levels. | ||||
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