Gold: Turnaround of the daily indicators are encouraging - Natixis

In view of Micaella Feldstein, Research Analyst at Natixis, the erosion of the 1247 threshold (daily Bollinger moving average) for gold prices as the turnaround of the daily indicators are encouraging.

Key Quotes

“Indeed, the risks of a new leg lower to a support at 1217 (daily parabolic) have lessened markedly and we rather anticipate a stronger rally to the resistance at 1283 (daily Bollinger upper band and declining trendline).”

“A break above this last barrier would be needed to contemplate an extension of the recovery towards 1317 (rising trendline) and 13401353 (monthly parabolic).”

“The supports lie at 1243-1247, at 1233-1238, at 1217-1224 and at 1190-1200.”