FX.co ★ Technical analysis of Gold for Aug 29, 2014

Technical outlook and chart setups:

1. Now, Gold is pulling back after printing intermediary highs around the $1,296.00 levels yesterday. The metal is expected to continue rallying further up towards $1,305.00 and higher up in the sessions to come by. It is recommended to remain long, risk remains below $1,270.00 levels.

2. Support is seen at $1,270.00, followed by $1,260.00, $1,240.00 and lower while resistance is seen at $1,325.00, followed by $1,340.00 and higher up respectively.

3. The structure indicates that Gold is set to print higher highs and higher lows from here on.

Trading recommendations:

Remain long, stop below $1,270.00, target is open.

Good luck!