Technical Outlook For Gold 24-6-2015

Gold moved yesterday in the average movement of 118 PIPs, its highest level at 1188.00 and the lowest price at 1176.13 and closed at 1177.75 to lose 73 pips According to positive economic data from USA

Gold opened today's trading at volatile between 1175 and 1179 during the Asian session trading at 4 dollars for the poor liquidity in the market range.

Gold moves in a series of up impulse waves after breaking the parallel price channel.

It is expected that the yellow metal is heading targeting 1190 as the target on time frame of four hours and till now we see the Bears control on market direction and the Bulls waits the first Support around 1170 to enter the market

And the Relative Strength Indicator "RSI" show us distribution operations at the market

Today we could see sharp trading because of the economic data from USA

Support levels: 1173.25 and 1168.75 and 1161.38

Resistance levels: 1185.12 and 1192.49 and 1196.99

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