Analysts from French investment bank look on Golds price action. Simple technical analysis may help to properly target our positions.

goldchartThe daily volatility tends to tighten and the daily stochastic has picked up. Besides, the weekly volatility starts to stabilize and the weekly stochastic is oversold. Against this backdrop, rallies are anticipated to 1187-1190 (daily parabolic).

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A break of this area would reduce the downside threats of a dip back to the 1160-1164 area (weekly Bollinger lower band) and would open the door for a sustained recovery to 1208 (daily Bollinger moving average) and 1228 (9-week moving average).

The supports stand at 1160-1164, at 1145, at 1127-1133 and at 1100.

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