FXstreet.com (Barcelona) - After closing out flat a day ahead, the spot gold rate has ticked upward and is pushing the $1160 price level. Bullion is currently up 0.35% on the day.
Rajooy C of Precise Traders urges caution expecting a choppy session until a break: "The Hourly Oscillators are Bearish but Weak and the price is Within the MA, so CAUTIOUS approach is needed for the Bears." Moreover, the "Hourly Trend is Sideways Down while 11625 holds and Daily Trend is Corrective Up while 11314 holds, so expect the price to be Choppy with a Downside bias."
Rajooy C puts the critical levels for the BEARS at 11595, 11663 and 11735. On the downside, the critical levels for the BULLS are listed at 11485, 11445 and 11385.
