FX.co ★ Technical analysis of Gold for September 23, 2014

 Technical outlook and chart setups:

Gold had produced a doji yesterday around $1,213.00/15.00 levels. Potential indications from here are for a reversal or at least a pullback towards the $1,280.00 region (fibonacci 0.618 resistance of fall from $1,300.00 to $1,208.00). The metal needs to at least clear $1,240.00 levels to confirm, that bulls are ready to take control back. Immediate support is seen around $1,200.00 levels, followed by $1,180.00, while resistance is seen at $1,240.00, followed by $1,273.00 and higher up respectively. As seen here, the metal is in process to produce a morning star bullish reversal candlestick pattern. It is recommended to plan a long entry after the above signal is confirmed on the daily chart view.

Trading recommendations:

Remain flat for now. Looking to go long.

Good luck!