GOLD technical picture & Outlook for October 10, 2014

Gold’s rebound from the triple support @ $1.183 has been going during the last few days. What matters most now is to see how big this technical bounce can be, given the heavy selling Gold has seen since July. The daily trend is up, but the intermediate and the longer-term trends are clearly down. A daily close below $1.200 will deteriorate the technical picture again.

Gold, 5-hours chart:

gold_20141010
Chart courtesy of Investing.com. http://investing.com

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