FX.co ★ Intraday analysis of Gold for August 15, 2014

A weekly close above $1,309, the bulls will hold their strength. The metal is facing strong resistance at higher levels. Until the metal closes above $1,324.50, sell on an up move. The daily Stochastics indicates a sell signal. On the bullish front, the metal closed above the major support levels, but it was unable to breach the $1,324.50 levels. On the downside, $1,263 is an open target until gold closes above $1,324.50. For an intraday perspective, the metal has support at $1,310.50, below this, $1,305.80 and $1,304.50.

Buy above $1,314

Sell below $1,308