Technical Analysis: Gold - Tuesday, Oct. 14
Gold managed yesterday to hit the target of 4085 and broke higher as the uptrend wave still has a strong hold over the market.
As we see from the Intraday chart, the market is facing the first support around 4132-35, where as long as prices hold above it, more advance toward 4235 will be expected.
Below 4132 more of a drop could hit the market with the second support at 4090 may re-activate the advance wave again towards 4235.
Below 4090 more of a drop will be expected with support at 4059.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 4132-35 | 4185 |
| LEVEL2 | 4090 | 4200 |
| LEVEL3 | 4059 | 4235 |
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