NTGOLD - NEWS

GOLD 01/04/2014

2014-04-01 14:37:12

By examening the above graph, we notice that the metal managed to trade and stabilize below 50% correction at 1287.30 levels showing on graph, as stability below it is negative and might push the price to test 61.8% correction at 1262.50. Linear Regression Indicators are negative and MACD is trading in a negative bias. These catalysts indicates further bearishness today which remains valid as long as the price is stable below 1300.00 which is a psychological barrier. Of note, breaking 1262.50 extends the downside move in the upcoming period.


Support	1280.00	1277.90	1272.00	1266.55	1262.50
Resistance	1287.30	1293.00	1296.25	1300.00	1309.35
Recommendation	Based on the above, sell gold below 1285.00 targeting 1277.90, 1266.55 then 1262.50 then stop-loss above 1300.00.

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TIME
Sydney	Tokyo	Ha Noi	HongKong	LonDon	NewYork
10:44:12 AM	9:44:12 AM	7:44:12 AM	8:44:12 AM	1:44:12 AM	8:44:12 PM