Gold moved higher again yesterday after retesting the broken descending resistance. It has now turned into support around the 1390.00 level. We would like to see price break above 1420.00 level to confirm a move higher towards the 50-days SMA and 1445.00 areas, as an initial upside target. We maintain our bullish rebound scenario.

Support: 1400.00, 1388.00, 1373.00, 1360.00, 1355.00
Resistance: 1410.00, 1419.00, 1425.00, 1440.00, 1450.00
Based on the charts and explanations above, we prefer to long gold above 1400.00 targeting 1420.00 and 1445.00. Stop loss below 1385.00.

Support: 1400.00, 1388.00, 1373.00, 1360.00, 1355.00
Resistance: 1410.00, 1419.00, 1425.00, 1440.00, 1450.00
Based on the charts and explanations above, we prefer to long gold above 1400.00 targeting 1420.00 and 1445.00. Stop loss below 1385.00.