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GOLD 30/05/2014

2014-05-30 15:26:34

The metal is still trading below 61.8% correction at 1260.90 of the bullish wave that started from 1182.00 reaching the top 1387.00, as trading below 1260.90 strengthens the bearish possibility today. Linear Regression Indicators still tends to the downside and RSI despite trading in oversold areas below line 30, the metal is still trading to the downside. MACD is trading in a downside move forcing us to think there is a possibility of extending the downside move towards 76.4% - 78.6% corrections around 1226.90. Only a break above 1278.00 could weaken the negative expectations.


Support	1250.80	1248.00	1244.50	1241.00	1236.50
Resistance	1262.00	1266.55	1272.00	1278.00	1285.15
Recommendation	Based on the above, sell gold at 1257.00 targeting 1250.00, 1241.00, then 1226.40 and stop-loss above 1278.00.

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
5,285.70	4,885.70
1oz ABC Bullion Cast Bar
4,393.00	4,013.00
100g ABC Bullion Bar
14,084.80	12,984.80
1kg ABC Bullion Silver
1,723.30	1,373.30

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

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