Gold Analysis On August 14th, 2014: Beware of 1304.95 Breakout

Gold price remains sideways. Hourly stochastic and CCI are overbought so beware of correction back to the support at 1304.95. If bullish signals appear from hourly stochastic and CCI before the support breaks, the gold price may rebound aiming 1314.08-1322.25.

But, be careful if the support at 1304.95 breaks because it will turn the intraday bias to bearish and possibly will push gold price lower to 1300.87-1295.82.

Gold H1
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