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Gold 25/06/2014
2014-06-25 16:15:11


The metal failed to keep its positive trading and closed today's candle below 1314.00 represented in 50% correction. We did not notice any confirmation signals on ending the upside move on the daily graph, but after failing to stabilize above 1314.00 we prefer to remain neutral waiting for confirmation signals that determines the possibility of ending the bullish wave or the if the downside move is only a correction.

AROON Indicator is still positive till now despite the weakness in the bullish strength. As for MACD, its signal lines are still trading to the upside and Linear Regression Indicators are positive. We do not trust yesterday's negative candle and will remain neutral.

 
 
 
Support 1309.35 1305.00 1300.00 1296.60 1293.00
Resistance 1314.00 1318.10 1324.35 1331.50 1339.75
Recommendation
Based on the above, we prefer to remain neutral today.

 

 



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