Gold: Likely that Gold will test a resistance at 1180 - Natixis

Micaella Feldstein, Research Analyst at Natixis, suggests that since the daily indicators have turned around, it is likely that Gold will test a resistance 1180 (daily Bollinger upper band). 

Key Quotes

“The break of this barrier would be needed to initiate a larger recovery to 1196-1200 (monthly Bollinger moving average) ahead of 1218 (weekly parabolic) and the resistances at 1242-1250 (weekly Bollinger moving average). The supports are at 1164-1173, at 1144-1147, at 1130-1135, at 1118 and at 1093-1100.”