GOLD 23/05/2014
2014-05-23 14:59:07
 Gold moved higher yesterday but the gains were halted above 1300.00 and the metal returned lover again, where now trading between Linear Regression Indicator 34 & 55. RSI and MACD are neutral but the downside bias is seen on RSI below 50 and MACD bars below zero. The LRIs are trading sideways with a slight positive bias. The signals support the sideways range trade for gold as far as trading is above 1277.00 and below 1309.35 and gold should exit the range for a clear strong move. Over intraday basis, we expect a new attempt to the upside as far as 1277.00 holds, since gold is stable above 50% correction shown on graph. |
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| Support | 1290.00 | 1285.00 | 1280.00 | 1277.90 | 1272.00 |
| Resistance | 1296.60 | 1300.00 | 1305.00 | 1309.35 | 1318.10 |
| Recommendation |
Based on the above, buy gold above 1293.00 targeting 1300.00, 1305.00, then 1309.00 and stop-loss below 1276.00. If the stop-order was triggered with the breakout below 1276.00, sell gold at the same point targeting 1271.00, 1266.00 then 1260.00 and stop-loss above 1290.00. |
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| TIME | |||||
|---|---|---|---|---|---|
| Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
| Prices By NTGOLD | ||
|---|---|---|
| We Sell | We Buy | |
| 37.5g ABC Luong Bar | ||
| 5,280.50 | 4,880.50 | |
| 1oz ABC Bullion Cast Bar | ||
| 4,388.70 | 4,008.70 | |
| 100g ABC Bullion Bar | ||
| 14,070.80 | 12,970.80 | |
| 1kg ABC Bullion Silver | ||
| 1,713.30 | 1,363.30 | |
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