Gold Weekly Technical Outlook

Gold edged higher last week but failed felt some selling pressure ahead of 1300 handle. Bearish divergence conditions are seen in 4 hours and daily MACD. Current rise might be the fifth wave in a five wave sequence and hence, upside potential should be limited. Break of 1225.1 would confirm short term topping and bring pull back, targeting 55 days EMA (now at 1157.7.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/gold-weekly-technical-outlook-2016031232512/