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Direction: Bullish above 1291.00, targeting 1317.00 and 1320.00 as long as the price trading above 1281.00

2016-06-16 16:06:18

Gold, 16-06-2016

Posted By: ICN.COMon: June 16, 2016In: Technical Analysis

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						Gold price rose as expected to touch levels around the psychological barrier of 1300.00, and trading close to 1303.56 previous top. Trading above 1291.00 might be a reason for more bullishness today, depending on the positivity appears on the moving averages and ADX indicator.

However, due to the presence close to the psychological barrier and RSI approaching 70 line, we should not exclude a large fluctuation. Generally, we will be positive as long as the trading stabilized above 1281.00, taking into account that breaking 1291.00 will weaken the positivity on intraday trading today.

Support: :1291.00 – 1281.00 – 1275.00
Resistance: 1310.00 – 1317.00 – 1320.00

Direction: Bullish above 1291.00, targeting 1317.00 and 1320.00 as long as the price trading above 1281.00

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Gold Price at ABCBULLION Foreign exchange rates at CommonWealth Bank Foreign exchange rates at ANZ Bank

Prices By NTGOLD
We Sell	We Buy
37.5g ABC Luong Bar
4,688.80	4,338.80
1oz ABC Bullion Cast Bar
3,894.40	3,544.40
100g ABC Bullion Bar
12,406.50	11,351.50
1kg ABC Bullion Silver
1,563.20	1,213.20