Gold failed to stabilize Below SMA 20 located at 1238.00, yet it rose the previous session. The ADX shows the emergence of a new upside direction while RSI 14 is hovers above the 50 line.

 However, the bullish direction would need a breach of 1250.00 on the intraday basis then a daily closing above 1260.00, noting that any failure in these two steps could halt the upside direction. We will be bullish today, but any failure to stabilize above 1250 or 1260 would force us to cancel out bullish direction and prefer neutrality.

• Support: 1242.00-1.238.00-1227.00
• Resistance: 1250.00-1260.00-1272.00

Direction: Attempt to start an upside direction
Notice: Our trading position is clear for subscribers in the update above.

• Gold Pressured By Bearish Outside Markets   (2016-11-01 03:50:56)
• Trend Down Under at 1360.00 and 1347.00 1332.00 targets 1370.00 as long as they do not violate   (2016-07-12 17:27:51)
• Direction: neutral   (2016-07-01 16:54:07)
• Direction: neutral   (2016-06-30 15:17:32)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-30 05:32:18)
• Direction: Bullish above 1317.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00   (2016-06-28 05:40:46)
• Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1280.00   (2016-06-24 20:25:31)
• Direction: Bearish below 1263.00, targeting 1250.00 and 1239.00 as long as the price trading below 1282.00   (2016-06-23 19:20:37)
• Direction: Bearish below 1262.00, targeting 1252.00 and 1240.00 as long as the price trading below 1280.00   (2016-06-22 14:56:10)
• Direction: neutral   (2016-06-20 20:28:46)