GOLD 27/03/2014
2014-03-27 16:42:15
The metal dropped yesterday touching levels slightly below the psychological level 1300.00. After touching the referred to level, the pair inched higher but remained limited below 38.2% correction at 1309.35 showing on graph. Therefore, the referred to psychological level is low on demand to form a bullish wave; so a break above 38.2% correction triggers further bearishness to touch 50% correction at least at 1285.15. Only breaching 1339.35 could fail the downside move, but we will depend today on stabilizing below 1323.20 to keep our negative expectations. |
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Support | 1300.00 | 1296.25 | 1293.00 | 1285.15 | 1280.00 |
Resistance | 1309.35 | 1315.00 | 1323.20 | 1330.00 | 1339.35 |
Recommendation |
Based on the above, sell gold below 1305.00 targeting 1296.25, 1293.00 then 1285.00 then stop-loss above 1323.20.
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TIME | |||||
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Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
Prices By NTGOLD | ||
---|---|---|
We Sell | We Buy | |
37.5g ABC Luong Bar | ||
5,342.30 | 4,922.30 | |
1oz ABC Bullion Cast Bar | ||
4,439.10 | 4,039.10 | |
100g ABC Bullion Bar | ||
14,189.20 | 12,939.20 | |
1kg ABC Bullion Silver | ||
1,702.70 | 1,352.70 |
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