24 Jun 2014
Gold may test 1290 again before reversing to the upside
FXStreet (Łódź) - According to Independent Analyst Vladimir Mihaylov, gold still in the negative daily cloud formed a clear 'flag' formation that signals a high possibility of bullish continuation.
Key quotes
"We are bullish as the price is above 1314, second important support is 1308."
"Below the last metal may test 1290 again before reversing to the upside."
"Daily and Weekly indicators are bullish while smaller one show that a downside correction is going on right now."
"Try small long above 1308 add to it above 1314 for 1330. Below 1308 exit any long positions. Try to enter long again close to 1290 with a tight SL."
Key quotes
"We are bullish as the price is above 1314, second important support is 1308."
"Below the last metal may test 1290 again before reversing to the upside."
"Daily and Weekly indicators are bullish while smaller one show that a downside correction is going on right now."
"Try small long above 1308 add to it above 1314 for 1330. Below 1308 exit any long positions. Try to enter long again close to 1290 with a tight SL."