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The positive attempts of gold prices continue to maintain the positive stability above the support level of 1871 within a narrowing range from the bottom above 1871 and from the top below 1887.
On the technical side, the 50-day moving average is still holding the price from below, and this coincides with the stability of the RSI indicator above the 50 midline.
We maintain our positive outlook, provided that the breach of 1887 and the most important 1890 is confirmed, targeting 1895 first awaited stations, and then 1902 next official stations.
Trading below 1871 and the price settled below it, it will immediately stop the attempts to rise, and gold prices will witness a bearish tendency with a target of 1864 and extend later to visit 1857.
Note: Negative features began to appear on the stochastic indicator.
| S1: 1871.00 | R1: 1887.00 |
| S2: 1864.00 | R2: 1895.00 |
| S3: 1857.00 | R3: 1902.00 |
