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

GOLD 28/05/2014
2014-05-28 16:21:13


The metal dropped sharply yesterday and we sold it at 1276.00 after achieving the stop-loss of the buying position, then resold gold at 1266.00 with updates that were sent to our subscribers. By examening the graph above, we notice that the metal achieved the awaited target represented in 61.8% correction at 1260.00 by breaking 1276.00 levels. But the bearish continuous symmetrical Triangle Pattern didn't achieve its targets yet, which favors an attempt to break 1260.00 and move directly towards 1226.40 represented in 78.6% correction.

The bearish possibility remains valid by stabilizing below 1296.60, but stability below 1285.15 strengthen it. Yesterday's long candle is negative and supports the bearish extension for today, as a bullish correction is needed to sell the metal again.
 
 
Support 1262.00 1260.90 1256.20 1250.00 1248.00
Resistance 1272.00 1278.00 1285.15 1293.00 1296.60
Recommendation
Based on the above, sell gold below 1272.00 targeting 1260.90, 1250.00, then 1226.40 and stop-loss above 1296.60.

 

 



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
5,169.304,749.30
1oz ABC Bullion Cast Bar
4,284.003,884.00
100g ABC Bullion Bar
13,739.3012,439.30
1kg ABC Bullion Silver
1,673.101,323.10
»  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: 350
  • Today: 1607
  • Total: 4672071