Gold - Solid Momentum
Gold continues to move higher. Hourly support is given at 1046 (03/12/2015 low) and hourly resistance can be found at 1191 (15/10/2015 high). Expected to show a deeper upside move.
In the long-term, the underlying downtrend (see declining channel) continues to favour a bearish bias. A break of the resistance at 1223 is needed to suggest something more than a temporary rebound. A major support can be found at 1045 (05/02/2010 low).