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Direction: Bearish below 1291.00, targeting 1275.00 and 1270.00 as long as the price trading below 1303.00
2016-06-17 21:05:43

Gold, 17-06-2016

Gold price rose gradually approaching the key resistance $ 1291.00 -1292.00, and this resistance will be a key for intraday trend trend  the rest of the day. Trading below this resistance might return negative pressure again, while breaching 1280.00 would confirm the extension of the down wave. However, breaking through 1292.00 may cause a new attempt to rise towards the next resistance levels around the psychological barrier at 1300.00 and 1303.00 technical resistance.

The sharp decline that took place yesterday formed a negative candlestick stabilized at levels below the psychological barrier $ 1300.00, and this may cause more bearishness in case confirm the return of trading below the price of 1280.00.

GOLD@Daily

Trading below 1291.00 – 1292.00 may be a reason to keep the opportunity to decline, positivity requires a break of 1300.00 and stability above it, while trading below it, will keep the probability for another down wave. RSI shows a negative tendency. From the down side, the prove for bearishness requires trading below 1280.00.

  • Support: 1280.00– 1270.00– 1263.00
  • Resistance: 1292.00– 1303.00 – 1317.00

Direction: Bearish below 1291.00, targeting 1275.00 and 1270.00 as long as the price trading below 1303.00

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