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

GOLD 20/05/2014
2014-05-20 15:55:44

Yesterday's upside move remained limited below 1309.35 again which worries us regarding the positive expectations and could change them to negative if the metal broke 1277.00 today. In fact, yesterday's candle is negative and indicates that the demand on gold failed to dominate the trading. RSI is currently trading below line 50 in a downside move accompanied by an attempt to break Linear Regression Indicators.
Therefore, breaking 1276.00 triggers a downside move towards 1260.00 represented in 61.8% correction, but we should wait to achieve the referred to break to confirm this negative outlook. On the other hand, breaching 1300.00 triggers a new attempt to the upside.
 
 
Support 1285.00 1280.00 1277.90 1272.00 1266.55
Resistance 1293.00 1296.60 1300.00 1305.00 1309.35
Recommendation
Based on the above, short gold by breaking 1276.00, targeting 1266.00, 1260.00, then 1250.00, and stop-loss above 1293.00.
 

 



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
5,276.304,876.30
1oz ABC Bullion Cast Bar
4,385.204,005.20
100g ABC Bullion Bar
14,059.7012,959.70
1kg ABC Bullion Silver
1,712.001,362.00
»  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: 484
  • Today: 12078
  • Total: 4627354