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Gold 05/06/2014

2014-06-05 15:37:31

The metal traded in a sideways range this week within a strong bearish wave achieved by the bearish continuous Symmetrical Triangle Pattern forming another bearish continuous formation. Trading below 1261.00 is negative and could trigger bearishness, while stabilizing below 1250.80 is more negative. We wait for the next target to be achieved represented in 78.6% - 76.4% corrections at 1226.40. Linear Regression Indicators are negative and AROON is showing weakness in the bearish strength but with extending negativity.


Support	1241.00	1236.50	1231.05	1226.40	1221.75
Resistance	1248.00	1250.80	1256.20	1262.00	1266.55
Recommendation	Based on the above, sell gold below 1245.00 targeting 1236.00, 1226.40, then 1205.90 and stop-loss above 1267.00.

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
5,280.60	4,880.60
1oz ABC Bullion Cast Bar
4,388.80	4,008.80
100g ABC Bullion Bar
14,071.20	12,971.20
1kg ABC Bullion Silver
1,713.90	1,363.90

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

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