Technical outlook and chart setups:
1. Gold has rallied through $1,324.00 ;eve;s before pulling back. The metal could print highs around the $1,328.00 levels before reversing lower. Recommendations are to exit long positions now and remain flat.
2. Support is seen at $1,260.00 levels, followed by $1,240.00, $1,230.00 and lower while resistance is seen at $1,350.00/60, followed by $1,388.00 and higher.
3. The structure indicates that Gold has turned bullish till prices stay above $1,240.00 levels.
Trading recommendations:
Exit long positions. Remain flat for now.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on market trends you may visit via Technical analysis of Gold for July 18, 2014 . Thanks for your support on Technical analysis of Gold for July 18, 2014
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