FX.co ★ Intraday analysis of Gold for August 14, 2014

The metal prices are closed and trading above the hourly key moving averages 21hrsma, 34hesma, and 12ema. The metal has been struggling to breach the $1,324.50 levels. Until it trades below $1,324.50 on the down side, gates open for 1,270-1,275 with an intermediate strong support at the $1,309, $1,302, 1,295, 1,285, and 1280 levels. For an hourly trading perspective, the metal looks weak only below the $1,309.50-$1,309 levels. Resistance is set at $1,3, $1,3.70 and above this at $1,314.50 and $1,318. Safe traders can sell below $1,309 with the target at $1,304.50, $1,302, and 1,296. Positional trades can sell on an upward move with sl $1,324.50. We can see a strong reversal only above $1,324.50