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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.
 
 
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.

 

 





TIME
Sydney Tokyo Ha Noi HongKong LonDon NewYork
Prices By NTGOLD
We Sell We Buy
37.5g ABC Luong Bar
5,347.104,927.10
1oz ABC Bullion Cast Bar
4,443.104,043.10
100g ABC Bullion Bar
14,201.8012,951.80
1kg ABC Bullion Silver
1,700.501,350.50
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