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GOLD 29/05/2014

2014-05-29 15:27:05

The metal dropped breaking 61.8% correction at 1261.00 showing on graph, as trading below this level leads to touching around 1226.40 represented 78.6% correction. Linear Regression Indicators are negative and RSI broke line 30 to the downside, while MACD supports the bearish extension. The bearish continuous Symmetrical Triangle formation still affects the price and could support extending the downside move. Only a break above 1285.15 could cancel negativity, but we will count today on stabilizing below 1272.00 to keep the intraday negative expectations valid.


Support	1250.00	1244.50	1241.00	1236.50	1226.40
Resistance	1256.20	1262.00	1266.55	1272.00	1278.00
Recommendation	Based on the above, sell gold below 1254.00 targeting 1250.90, 1241.00, then 1226.40 and stop-loss above 1272.00.

Related news

Gold Pressured By Bearish Outside Markets (2016-11-01 03:50:56)
Trend Down Under at 1360.00 and 1347.00 1332.00 targets 1370.00 as long as they do not violate (2016-07-12 17:27:51)
Direction: neutral (2016-07-01 16:54:07)
Direction: neutral (2016-06-30 15:17:32)
Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00 (2016-06-30 05:32:18)
Direction: Bullish above 1317.00, targeting 1365.00 and 1400.00 as long as the price trading above 1290.00 (2016-06-28 05:40:46)
Direction: Bullish above 1303.00, targeting 1365.00 and 1400.00 as long as the price trading above 1280.00 (2016-06-24 20:25:31)
Direction: Bearish below 1263.00, targeting 1250.00 and 1239.00 as long as the price trading below 1282.00 (2016-06-23 19:20:37)
Direction: Bearish below 1262.00, targeting 1252.00 and 1240.00 as long as the price trading below 1280.00 (2016-06-22 14:56:10)
Direction: neutral (2016-06-20 20:28:46)

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
5,280.80	4,880.80
1oz ABC Bullion Cast Bar
4,389.00	4,009.00
100g ABC Bullion Bar
14,071.90	12,971.90
1kg ABC Bullion Silver
1,714.60	1,364.60

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The process of producing gold 1) Metallurgy. 2) Metal working and check. 3) Producing.

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