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Gold 04/07/2014
2014-07-04 15:07:16


The price witnessed great volatility but remained limited above 1314.00 at 50% correction showing on graph. Despite that, MACD is trying to achieve a negative crossover and AROON is showing weakness in the bullish strength, and some strength in the downside move despite that the downisde move isn't confirmed on the last indicator.
Linear Regression Indicators are still positive, but we would like to wait today as failing three times this week in breaching 61.8% correction worries us in regards to the positive expectations, whereas the upside move requires breaching that correction residing at 1331.45.

 
 
 
Support 1318.10 1314.00 1309.35 1305.00 1300.00
Resistance 1324.00 1331.50 1339.75 1348.40 1350.00
Recommendation
Based on the above, we prefer to remain neutral today.

 

 



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