gold start to rebound

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Aug. 14th gold price trend analysis
International gold price yesterday rise from bottom, dropt down to about 1304USD/oz. and started arranging and went upside during the night, climbed up to 1310 this morning, which indicate that gold is still under pressure. Today’s Asian early trading gold volatilized slightly, currently closed at about 1311USD/oz.
U.S. July retail sales(rate per mensem) released last night was not good as expected, and that pressed U.S. dollar index dropt slightly, then made a strong rebound, closed at about 81.60. Gold lifted by bad U.S. dollar index data up to above 1310, while still suffering a limited rebound space. Currently gold enjoyed two days surge but still in the rebound channel. MACD red bar is strong, trading long positions when price temporarily declining.(gold jinyu)

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