14 Nov Thursday View

Gold has broken the past several continuous lower closes by closing higher yesterday at 30890 (USD 1281). For now it seems to have found support at around 30382 (USD 1260) level which was a support on around 15^th October and from it tested the high of 32794 (USD 1360) just right at the 150 SMA in daily chart. The RSI seems to be supportive for some up-moves for now but long as it is trading below the 150 SMA currently at around 32456 (USD 1346) level, it wouldn't be a good idea to bet bullish on the metal. A break of 30165 (USD 1251) should be waited for further bearish bets, in between the price may be just consolidating.

Trade Happy, Trade Safe :)