![(14 AUGUST 2017)GOLD (in USD):Bearish consolidation. (14 AUGUST 2017)GOLD (in USD):Bearish consolidation.](https://c.mql5.com/6/783/splash-704940.jpg)
![Jiming Huang Jiming Huang](https://c.mql5.com/avatar/2015/11/563C54E3-36DF.jpg)
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Bearish consolidation.
(Yann Quelenn )
• Gold is consolidating lower. Hourly support is
given at 1251 (08/08/2017 low). Stronger support
lies at 1204 (10/07/2017 high). The commodity is
heading towards resistance given at 1296
(06/06/2017 high). Expected to show renewed
buying pressures.
• In the long-term, the technical structure
suggests that there is a growing upside
momentum. A break of 1392 (17/03/2014) is
necessary ton confirm it, A major support can be
found at 1045 (05/02/2010 low)