Live Rates Powered By:
AUDUSD
NZDUSD
EURUSD
GBPUSD
USDJPY
USDCAD
Loading

GOLD 27/02/2014
2014-02-27 15:21:47


The price moved to the downside yesterday touching below 78.6% correction at 1323.20 achieving the stop-loss suggested in our intraday positive expectations yesterday. In fact technical indicators are showing extreme negative signals, whereas RSI 14 is showing a negative divergence while MACD is trying to crossover negatively indicating that the price might have entered a bearish correction after failing to stabilize above 1341.10 levels.

It's ok ! as the technical harmonic pattern achieved several targets forcing us to become neutral today, whereas the referred to negativity contradicts with the technical harmonic analysis and the positive Linear Regression Indicators. To confirm extending bearishness, the price has to stabilize below 1323.20 and break Linear Regression Indicators. Till then, we will monitor the metal's movement around the referred to level.
 
 
Support 1323.20 1315.00 1310.00 1300.00 1296.25
Resistance 1341.10 1347.20 1350.00 1356.60 1361.50
Recommendation

Based on the above, we prefer to remain neutral waiting for confirmation signals.
For traders who want to bet on the negative divergences showing on technical indicators, its possible to short the metal below 1330.00 with targets at 1323.20, 1315.00 then 1310.00, with stop-loss above 1341.10.

 



Related news


TIME
Sydney Tokyo Ha Noi HongKong LonDon NewYork
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
5,236.204,816.20
1oz ABC Bullion Cast Bar
4,339.503,939.50
100g ABC Bullion Bar
13,917.7012,617.70
1kg ABC Bullion Silver
1,689.401,339.40
»  Wall Street all in on further gains for gold, Main Street grows more bullish for next week’s price action   (2024-10-19 10:12:59)
»  Gold shines as ultimate safe-haven asset, set to hit $3,000/oz by 2025 – Bank of America   (2024-10-19 10:07:32)
»  Gold and silver to rally through the end of 2024, copper likely to lag – Prosper’s Scott Bauer   (2024-08-15 06:23:01)
»  Wall Street experts see gold gaining on renewed recession fears, Main Street bullishness not far behind   (2024-08-04 16:15:53)
»  Phố Wall chứng kiến ​​đà tăng giá vàng mới vào tuần tới, tâm lý lạc quan của Phố Main tăng lên   (2024-07-27 17:29:24)
»  Wall Street sees renewed momentum for gold prices next week, Main Street’s bullish sentiment increases   (2024-07-27 17:26:59)
»  Wall Street is balanced and cautious on gold next week, Main Street remains optimistic about price gains   (2024-07-20 08:49:41)
»  September rate cut and Trump policies are boosting gold demand – FX Empire’s Ali   (2024-07-19 05:12:10)
»  Gold price will average $2,500 per ounce in Q4 2024 as bull case remains intact despite sharp gains – JPMorgan   (2024-07-18 11:18:51)
»  Wall Street sees green lights for gold next week; Main Street jumps back on the bullish bandwagon   (2024-07-06 04:25:55)
»  Gold and silver price pullback following Friday’s NFP would be buying opportunities – FX Empire’s Lewis   (2024-07-05 02:45:04)
»  Wall Street will sit on the sidelines next week, Main Street divided on gold’s price prospects   (2024-06-29 14:26:23)
»  Routine profit-taking pressure in gold, silver Tuesday   (2024-05-22 07:27:48)
»  Wall Street sees gold prices challenging $2,500 next week, Main Street sentiment is more restrained   (2024-05-20 19:46:56)
»  Gold, silver rally as Fed’s Powell leans a bit dovish   (2024-03-07 05:26:21)
The process of producing gold 1) Metallurgy. 2) Metal working and check. 3) Producing.
Slideshow
 
© 2011 Copyright By Ngoc Thanh NTGold. All Rights Reserved.
Powered by: Ngoc Thanh NTGold
 
  • Online: 378
  • Today: 9657
  • Total: 4666686