Posted on May 21, 2015 06:16
Spot gold closed higher on Wednesday, due to strong demands level, the yellow metal is strongly supported above the price area 1205-1210.
Take a look on some mentioned below indicatory summary.
1) In h1 graph, the bearish trend line has been broken.
2) Strong support indicated by the Kijun sen in h1 graph, and by Senko Span A in h4 graph.
3) Simple Moving Average of 100 and 200 days are also acting as a support in h4 graph.
4) Parabolic SAR dots are indicating bullish trend in h1 graph.