The CFTC data along with the liquidation in the SPDR Gold Trust market are the most influential factors for Gold.
The support rests at 1185.57 with resistance at 1192.02 which both lines are above the weekly pivot point at 1181.77. The EMA of 10 is moving with bullish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is rising above the 50 level, the Stochastic is moving in high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing strong buy signal. The price is above the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing an upward trend while the Kijun-sen is showing a horizontal trend.
Long positions are recommended towards 1200.
