FX.co ★ Technical analysis of Gold for April 24, 2014

Technical outlook and chart setups:

1. Gold is in its 4th straight session trading within the $1,277.00/85.00 region. Indecisive candles are being produced at the moment leaving room for either directional trades. Looking into the overall setup, bulls are favored to remain in control till prices stay above $1,277.00 levels for now.

2. Support is at $1,230.00/40.00 levels, followed by $1,210.00 and lower, while resistance is at $1,330.00 and $1,388.00 respectively for now.

3. The structure indicates that Gold could resume rally any moment but prices should remain above $1,277.00. A break below, would delay matters further.

Trading recommendations:

Stay long, stop is at $1,277.00, target is open.

Good luck!