Gold: Rallies cannot be ruled out - Natixis

Sandeep Kanihama FXStreet Contributor

Rally in gold prices cannot be ruled out as the daily stochastic is close to the oversold territory, according to Micaella Feldstein, Research Analyst at Natixis.

Key Quotes

“Yet, a return above the resistance at 1287-1292 (daily Bollinger upper band) sounds tricky in the next few days.”

“The weak daily volatility and the turnaround of the weekly stochastic should indeed prevent the Gold from recovering markedly and we fear a new wave of decline. We’ll watch out the 1248 support (weekly Bollinger moving average) whose break would provide fresh bearish impetus to 1230 (monthly Bollinger moving average) and 1214 (weekly parabolic).”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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