FX.co ★ Technical analysis of Gold for Aug 27, 2014

Technical outlook and chart setups:

1. Gold had rallied past the $1,290.00 mark yesterday before pulling back.  The metal is still expected to hit $1,302.00/05.00 levels before retracing further. $1,270.00 levels seem to be base for the metal now.

2. Support is seen at $1,270.00 (interim), followed by $1,260.00/40.00 while resistance is seen at $1,325.00, followed by $1,340.00 and higher respectively.

3. The structure indicates that Gold could clear $1,325.00 levels from here on. The $1,270.00 level should remain intact though.

Trading recommendations:

Remain long, stop below $1,270.00, target is open.

Good luck!