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Challenging its key support at 1268.
• Gold made a bullish intraday reversal yesterday near its key support at 1268. Resistances for a
short-term bounce are given by 1295 (11/10/2013 high) and by the declining trendline (around 1311). However, the break of the declining trendline is needed to invalidate the current short-term bearish outlook. Support can now be found at 1252 (15/10/2013 low) and 1209
(05/07/2013 low).
• The medium-term technical configuration remains biased to the downside given the break of the rising channel and the longer term bearish trend. Key supports are at 1268 and 1181, while a
key resistance stands at 1434 (28/08/2013 high, see also the 200 day moving average).
• Gold made a bullish intraday reversal yesterday near its key support at 1268. Resistances for a
short-term bounce are given by 1295 (11/10/2013 high) and by the declining trendline (around 1311). However, the break of the declining trendline is needed to invalidate the current short-term bearish outlook. Support can now be found at 1252 (15/10/2013 low) and 1209
(05/07/2013 low).
• The medium-term technical configuration remains biased to the downside given the break of the rising channel and the longer term bearish trend. Key supports are at 1268 and 1181, while a
key resistance stands at 1434 (28/08/2013 high, see also the 200 day moving average).
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