The tensions in Middle East is empowering Gold.
The support rests at 1547.25 with resistance at 1565.25 which the weekly pivot point at 1553.27 is located in between the lines. The EMA of 10 is moving with bullish bias in the horizontal channel and it is above the EMA of 200 and the EMA of 100. The RSI is falling towards 50 level, the Stochastic is showing downward momentum and the MACD line is on the signal line in the neutral territory. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and above the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 1570.

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